ASX200 - Topping around here?

The weekly chart of AXJO  below is self explanatory. See the red arrows on a long term parallel channel. Could be topping here. As to the Elliott wave counts, there are a few possibilities. At this point important thing is to be cautious as it could turn down.

Biogen

Biogen looks to may have completed the wave B of an ongoing correction. The below weekly chart shows the possible counts.

VISA Inc - Elliott Wave Counts

The following monthly chart for Visa Inc shows the wave counts since the bottom it made in early 2009. That bottom is assumed to be wave 2 of a larger 5 wave impulse. Intermediate degree wave 5 could have started in Feb 2016. If this wave count is correct the stock may have already completed or nearing  completion of wave 5. Also if correct this implies an extended wave 5 which can retrace back to an eventual target of around USD 75.

Netflix - Could it be nearing end of extended wave five?

In this post I am analyzing the weekly and then daily charts of Netflix . The analysis done in this chart is only one of the possible scenarios. However preposterous it may look, it meets all of Elliott wave rules and is therefore possible. The reason to present it here is that going forward extreme caution may be required to trade this stock. 

The following is the weekly chart starting Aug 2012. The main reasons that the counts presented on the chart is possible are

i) wave 3 is not the shortest

ii) Wave 4 doesn't overlap wave 2.

 

In the below daily chart the detailed possible counts are presented for this possible (not guaranteed though!!) extended wave 5 starting July 2016. 

It is also possible that Wave iii actually ended on 17 Apr 2018 (where (i) of v is shown at price level of 338.62. If so wave 5 may have completed on 21 Jun 2018 at 423.21.

 There is alternate possibility that what I am presenting as extended wave 5 is only wave 3 of larger degree count. That will become clear once correction happens. For now looking at the possibility of  extended wave 5 extreme caution is warranted.

 

Copper - Bullish short/ medium term

This post on Copper is coming after an earlier post on (17/1/2016), when it was anticipated that Copper is bottoming. There it was stipulated that the metal is undergoing correction since the lower top it made in April 2006. There is no change in this outlook. A correction can take any number of forms and hence very difficult to predict and put a count on. Still there are a couple of long term scenarios (in red and in  blue) I have marked on the chart below. Apart from this it is possible that instead of triangle it  may form undergo a flat, double flat or any other complex correction.

Coming to short/ medium term, below is the weekly chart. The upward trend in Copper seems to be intact. Here again there are numerous possible counts. The preferred count for now, assuming a zig-zag corrective pattern, is as shown on the chart.

NSE Nifty nearing completion of wave 3?

This is in continuation of the earlier post on (15/10/17). In this it was stipulated that the Nifty is in wave 3 which may complete near about 11000. Now it appears like Nifty may be forming an ending expanding diagonal to complete wave (v) of v of 3 (refer earlier post for counts). The detailed counts for wave v which started in Feb 2016, are shown below. However it is to be noted that it is not given that this will indeed turn out to be expanding diagonal and there will be a wave e. 5th waves are deceptive and extreme caution is called for.  It is time to sell the rallies.

Also of note is that the prices are touching the upper trend line of a long term channel. 

US Dollar Idex - On it's way to 65?

This is in continuation of the earlier posts on DX published here on (13/Sep/2017),  (1/May/16) and (5/Feb/2016). Now it appears top was made in Jan 2017 and the DX is now progressing downwards towards long term lower trend line as was stipulated in the post published on 1/May/16. The updated chart from 1/May/16 is produced below. The lower trend line may be reached around 60-65.

USD/INR - Bullish Indian Rupee

Following is the monthly chart of USD/INR since last almost 45 years. 

The key observations from the chart are:

1. USD may have formed a major top in Feb 2016 at 68.909 and is undergoing correction since then.

2. It may also be possible that the secular bull market in USD ended at the above mentioned major top. 

3. The  peak rise in USD vs INR was during 190-1991. USD rose almost 50% against Indian Rupee. This is what happens during peak wave 3.