The collision of global markets and social mood

Wednesday, December 16, 2015

Wednesday -- No Rush Until 2pm

S&P E-mini Futures:
Continuing higher on Fed frontrunning.

News:
Today's news comes out at 2pm, and more at 2:30pm with Yellen's comments.

Other than that it's like a half-day off.

FX:
Quiet ahead of the Fed decision. USD mostly firm. CHF feeling safe haven flows, yet benign action in JPY. NOK getting slammed.

Treasuries:
Prices correcting recent run up, but on lighter volume. Wave patterns suggest lower eventually.

Energy:
WTI crude looking a bit shaky. NG continuing to react from most recent low.

Metals:
Gold, silver, and copper ripping.

S&P Outlook:
Asia and Europe are green green green, likely adding to the feelgood feeling of the e-minis and vice versa in what is likely a large feedback loop.

Put out this chart mid-day yesterday.


But then found one I liked a lot better. This goes back to the original B-wave idea, rightly observing that b-waves can exceed the end point of the most recent impulse (labeled as "3").

Note the use of Ichimoku Cloud with Elliott. Nice.

This count implies a weak new all-time high then a wipe out below the August lows which would be a complete riot.

Source: someone named "hehe" at TradingView.com

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