The collision of global markets and social mood

Thursday, October 8, 2015

Thursday -- Rough Guide To The Proposed B-Wave

S&P E-mini Futures:
Down, but not yet impulsively.

News:
Bloomberg reported more spooky numbers from Germany -- exports down 5.2% in August, the steepest decline since Jan. 2009. Estimates were -0.9%.

Germany's trade surplus shrank over 60% in July alone.

And in Japan, August core machine orders fell 5.7%, the third consecutive monthly decline.

Meanwhile, the BOE kept interest rates at a record low.

FX:
JPY and CHF stronger, potential warning to equities. GBP understandably weaker on BOE rate decision.

Energy:
WTI crude and NG higher today.

Metals:
Gold and especially silver giving back recent gains as copper falls.

S&P Outlook:
Liking the B-wave scenario more and more.

Here it was from 9/25:


Here now:


As always, don't use these charts for timing or actual Elliott labeling. These are rough guides only.

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