Extended Report EW-Compass

Th e El l iott Wave Pr inc ip le
16 th October 2014
(data through 15th October 2014)
Table of Contents {click on TOC text!}
Summary............................................................................ page 1
S&P 500 Daily - Count #1............................................ page 3
S&P 500 360 mins. - Count #1..................................... page 4
Russell 2000 Daily - Count #1..................................... page 5
Nasdaq 100 Daily - Count #1....................................... page 6
EuroStoxx 50 Daily - Count #1.................................... page 7
Xetra Dax 30 Daily - Count #1.................................... page 8
FTSE 100 Daily - Count #1............................................. page 9
Hang Seng Daily - Count #1...................................... page 10
India CNX Nifty 50 Daily - Count #1...................... page 11
NIKKEI 225 Daily - Count #1................................... page 12

US$-Index Daily - Count #1...................................... page 13
EUR vs. USD Daily - Count #1.................................. page 14
USD vs. YEN Daily - Count #1 ................................. page 15
AUD vs. USD Daily - Count #1................................. page 16
US 10yr Yield Quarterly - Count #1......................... page 17
DE 10yr Yield Daily - Count #1................................. page 18
Gold Daily - Count #1................................................ page 19
Silver Daily - Count #1............................................... page 20
Crude Oil (NYMEX) Daily - Count #1...................... page 21
Summary
stock indices
The latest batch of U.S.
statistics released during Wednesdays

session showed further weakening of the
economy with Septembers retail sales
coming in lower than expected, down
-0.3% per cent whilst N.Y.s Empire State
index declined to 6.2 this month from an
almost five-year high of 27.5 in September.
This is now hovering slightly above the
zero line that indicates growth but for
how long remains to be seen. Our
benchmark S&P 500 index responded by
falling over -3% to a low at 1820.00, its
largest one day decline since the high
formed at 2019.26 last month. It was
almost inevitable that such an acceleration
was about to unfold because the initial
decline from the 2019.26 high had begun as
a series of 1-2-1-2-1-2 sequences these are
the precursor movements of step-like lower
highs and lows that occur prior to price-
expansion, or a 3rd-of-3rd-of-3rd wave

downward price decline. And this is exactly
how the pattern has developed. This 3rd-of3rd-of-3rd wave appears exhausted as it
approaches the 1820.00+/- level, so we
expect a temporary upward rally to begin
the necessary 4-5-4-5-4-5 sequences that
must ultimately follow so that an ultimate
conclusion of the larger five wave impulse
pattern ends during the next couple of
weeks. Using our proprietary fib-priceratio models, completion is projecting
down to 1784.00+/-. Meanwhile, it is
noteworthy that the small-cap Russell
2000 is outperforming the S&P during
this latest sell-off. Downside targets for the
completion of a zig zag unfolding into the
decline from the June high of 1213.55 held
important support at 1040.00+/-. This
places a shorter-term positive into the
market for the next several days. In Europe,
the Eurostoxx 50 is working its way lower

towards downside targets at 2805.00+/whilst the equivalent levels for the Xetra
Dax are to 8170.00+/-. In Asia, the Hang
Seng is preparing to catch up with
Wednesdays declines next downside
targets are to 22230.00+/- whilst in Japan,
the Nikkei has found some short-term
support at 14500+/- but the larger
downtrend remains dominant.
currencies (fx)
Weaker-than-expected
U.S. retail sales and Empire State index
announced Wednesday highlighted the
fragility of the U.S. economy at a time
when Europe is slowing down and emerging
markets are already in decline. The US$
dollar consequently traded lower but this
decline was already part of a counter-trend
pattern that began earlier, from last weeks
high of the US$ dollar index at 86.74. This
recent weakness is only modest and seen as

a mild correction within the ongoing
uptrend. Trading down to 84.47 has
attempted idealised downside targets to
83.95 forecast in last weeks report, and so
this could be ending the dollars decline
already. Meanwhile, the Euro/US$ has
mirrored this pattern by extending its
counter-trend upswing from last weeks
low of 1.2500. The initial upswing unfolded
into an intra-hourly zig zag pattern to
1.2792 but this was insufficient to complete
a fourth wave rally as a higher attempt is
necessary based upon R.N.Elliotts
guideline that requires a retracement to
fourth wave preceding degree. The Euro/
US$ has now extended this upswing to a
session high of 1.2888 this is still a little
short of upside targets to 1.2958+/- but at
least enough to qualify the guideline.
{continued on next page}
WaveTrack Internatonal GmbH
Kanalstr. 14
80538 Munich Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
E-Mail: services@wavetrack.com
www.wavetrack.com
{continued}
Big news for the US$/Yen the dollars

decline from the late-September high of
110.08 has extended an initial three wave
pattern into a five wave sequence with
consequences of changing the direction of
the larger trend from upwards to downwards.
Primary wave that began a multi-year
advance from the Nov.11 low of 75.56 is
now deemed as completed with much more
downside potential for the weeks ahead. The
Aussie/US$ dollar continues to range-trade
between 0.8652-0.8900 but is unlikely to
extend higher at this time. Its developing
five wave impulse decline from the July high
of 0.9506 remains incomplete with ultimate
downside targets to 0.8376+/-.
bonds (interest rates)
Wednesdays
weaker-than-expected U.S. Retails Sales and
lower N.Y. Empire State index triggered a
collapse in long-dated yields with the US10yr
taking the biggest hit, down 31bps on the day
to 1.920% while the US30yr yield plummeted
over 24bps to 2.730%. With the US10yr
extending well beyond our downside targets
of 2.183%, this is no longer ending primary
wave within the uptrend in progress from
the July 12s low of 1.377%. Instead, the
extent of this decline isolates the preceding
upswing of the last two years as a three wave
pattern, in which case, it now becomes
possible for yields to continue their declines
during the next couple of months, even
extending so that the historical lows are
broken to the downside. In our latest report,
we re-examine the long-term pattern of the

US30yr yield decline from its historical high
that formed in year-1981 at 15.190%. This
suggests a break below the existing July 12
low of 2.438% is possible but only modestly
with targets to 2.190%. This would equate to
a brief break into new lows for the US10yr
yield towards 1.310%. More assessment is
needed, but such a decline would at least
synchronise with the current downside
targets for the DE10yr yield that retains
downside targets to 0.536%. Shorter-term,
the DE10yr is expected to test 0.638% but
then begin a counter-trend rally to 0.895%.
Gold prices turned

higher during the late U.S. trading session
after posting some modest losses in
overnight trading. The early weakness was
influenced by downbeat economic data
from China the inflation rate in September
declined to 1.6% per cent year-on-year
which is the lowest rate since 2010. But as
the U.S. session opened, all that changed.
Septembers U.S. Retail Sales declined by
0.3%, the Empire State manufacturing
index recorded a sharp 21 point drop to 6.2
in October and the producer price index fell
by 0.1% in September. Stock markets
consequently sold off, the US$ dollar
declined and this was enough to pull gold
higher, breaking overhead resistance at
1238.00, triggering short-covering in the
process to a high of 1249.75. Prices trimmed
those gains late on, to 1240.00 but from an
commodities
Elliott Wave perspective, the high at

1249.75 lies within the boundaries for the
completion of a counter-trend upswing that
began from the recent low of 1182.90. But
this does represent a maximum in order to
maintain a more immediate downtrend
sequence that began from the July high of
1345.30. Should gold otherwise extend
higher, it would signal a continued advance
towards 1307.45+/- as part of a multi-year
descending triangle pattern that began a
corrective upswing from the June 13 low
of 1180.04. Silver is key to watch for any
sign that current strength would extend in
this manner but at the moment, it remains
weak and still underperforming gold with
the ratio currently trading at 71.14. Silver
spike briefly higher during Wednesdays
session to 17.82 but could not break any
meaningful overhead resistance. It pulled
back on the close to 17.42. Meanwhile,
Crude Oil continued lower as latest report
of rising U.S. production and increasing
supplies depressed markets amidst the stock
market sell-off. A session low traded to
80.01, a two-year low but mostly in line
with our recent forecasts. This ended a 3rd
wave low within the larger five wave
impulse decline in progress from the
Aug.13 high of 112.24. A 4th wave
corrective upswing can now begin and last
the next few weeks upside potential to
89.62 prior to a continuation lower into
year-end targets between 77.28+/-, max.
70.43+/-.
***
WaveTrack International GmbH
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
S&P 500 Daily - Count #1

EW-Analysis This daily chart depicts cycle wave C
that began from the Oct.11 low of 1074.77. It is unfolding
into a five wave expanding-impulse sequence, subdividing
into primary degree, ----. Wave that began
its advance from the Nov.11 low of 1158.67 recently
completed its 3rd wave, labelled intermediate wave (3), at
the mid-September high of 2019.26. Intermediate wave
(4) is now in downward progress and is projected to an
idealised downside area at 1690.00+/-, derived by a fib.
38.2% retracement of wave (3). This counter-trend decline
is modelled around a developing zig zag pattern labelled
a-b-c in minor degree. Cutting this 2019.26-1689.80 range
by a fib. 61.8% ratio, a golden-section cut projects interim
support levels to 1808.84+/- for the finalisation of minor
wave a. This level could be exceeded but this would then
ordinarily allow a deeper upswing for minor wave b.
fig 1 S&p 500 Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
S&P 500 360 mins. - Count #1

Intermediate wave (4) declines from the mid-Sep.14 high
of 2019.26 continue to work lower. The idealised pattern is
expected to unfold into a single zig zag labelled a-b-c in
minor degree with ultimate downside targets to 1689.80
and interim levels for minor wave a. towards 1808.84.
Minor wave a. must subdivide into a smaller five wave
impulse pattern, and its initial decline can be seen
unfolding into a series of step-like 1-2s, three in total.
Last Thursdays decline from the high of 1970.36 began
what we term as the price-expansion phase, the 3rd-of-3rdof-3rd wave sequence, a necessary function that develops
within a developing expanding-impulse pattern. This is
itself subdividing into a smaller five wave pattern and
we expect it to complete soon with one more dip towards
target levels of 1820.00+/- but then begin a counter-trend
rally, heading back to the 1880.00+/- level, the exact levels
are dependent on the current 3rd wave low. Extending
the 1-2-1-2-1-2 sequence by a fib. 161.8% ratio projects a
potential completion for minor wave a. at lower levels at
1784.21+/-.
fig 2 S&p 500 360 Mins. - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
Russell 2000 Daily - Count #1

EW-Analysis The decline from the early-July 14 high
of 1213.55 has begun a counter-trend retracement labelled
minuette wave [iv]. This is correcting wave [iii]s preceding
advance that began from the June 12 low of 729.75 (see
bottom-left of background chart). The June12 date is also
important because it synchronised with the S&P that also
began its five wave upswing, ending more recently into
the September high. The Russells corrective decline is
ultimately expected to test the fib. 50% retracement level
at 941.06 but unfolding into a more complex double zig
zag pattern. This will be validated if the current sell-off
holds around support recently measured towards the
1046.00-40.00+/- level. This is where sub-minuette wave
(a) of the first zig zag sequence is extended by a fib. 61.8%
ratio a common recurrence to finalise wave (c). This
weeks low has already tested this level. Should prices
withstand selling during the next couple of trading days,
then it would suggest a temporary upside rally as wave
(x) is about to begin prior to the secondary zig zag sell-off
taking place sometime into November.
fig 3 Russell 2000 Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
Nasdaq 100 Daily - Count #1

EW-Analysis The Nasdaqs advance from the Nov.12
low ended intermediate wave (3) at the mid-Sep.14 high
of 4118.91. A counter-trend decline has since begun wave
(4) and this is expected to unfold into a single zig zag
pattern, labelled a-b-c and in minor degree. Ultimate
downside targets measure to the fib. 38.2% retracement
level at 3400.75 cutting this by a fib. 61.8% ratio projects
an interim downside target for minor wave a. towards
3659.12. Minor wave a. must unfold into a smaller five
wave pattern, specifically, an expanding-impulse type.
This can be verified basis the initial step-like series of 1-21-2-1-2 declines {see inset chart, top-left} price-expansion
in the form of a 3rd-of-3rd-of-3rd began from the 4048.79
level but is due to complete at either current levels, or a
little lower, towards idealised targets at 3730.00+/-.
fig 4 Nasdaq 100 Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
EuroStoxx 50 Daily - Count #1

EW-Analysis Cycle wave Bs decline that began
from the truncated 5th wave high of 3301.15 is ultimately
expected to test the fib. 50% retracement level at 2537.28
during the next few months. Cutting this by a fib. 61.8%
ratio to create a golden-section of the zig zag pattern
projects an interim low for primary wave towards
2805.22+/-. This can now be corroborated by examining
the five wave subdivision of primary wave {see inset
chart, top-left}. Like the S&P, the initial decline of this five
wave impulse pattern began as a series of 1-2-1-2-1-2s.
If the low of this sequence is extended by a fib. 161.8%
ratio, then it projects a terminal low for the entire impulse
pattern to 2791.25. A 3rd-of-3rd-of-3rd wave low is forming
now with a successive 4-5-4-5-4-5 sequence to follow.
fig 5 Eurostoxx 50 Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
Xetra Dax 30 Daily - Count #1

EW-Analysis The overall economic picture
continues to deteriorate in Europe with recent declines in
manufacturing and GDP. The Xetra Dax is now -11.50%
per cent down since the high formed as intermediate
wave (3) last month. The fib. 50% retracement level
provides our idealised downside target for wave (4) to
7710.11 (measuring to the price extremity of 10032.28 and not
the orthodox 5th wave truncation at 9891.20) but we remain
open to the concept of an even deeper retracement to the
fib. 61.8% level at 7242.45. This would be unusual for a
fourth wave, but it does remain above the high of wave
(1) to prevent overlap. Wave (4) is shown unfolding into
a single zig zag with minor wave a. moving towards the
nearer fib. 38.2% target at 8207.97. This closely corroborates
with the subdivision of its five wave impulse sequence {see
inset chart, top-left} where the initial 1-2-1-2-1-2 sequence
is extended by a fib. 161.8% ratio to project a final low at
8172.40+/-.
fig 6 Xetra Dax 30 Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
FTSE 100 Daily - Count #1

EW-Analysis The Ftse 100 decline has already given
up more than half of its previous gains formed during
the last year but it is outperforming relative to Germanys
Xetra Dax as it is down -8.40% per cent from its September
high. In this newly-drawn chart, this decline represents
the third sequence of a larger expanding flat corrective
pattern unfolding from the May 13 high of 6875.62 (this
was the same date that the Nikkei formed its high!) and labelled
intermediate wave (C). In all probability, this is likely
to extend slightly below the low of wave (A) at 6023.44
before ending the pattern at the fib. 14.58% extension level
of 5908.19.
fig 7 Ftse 100 Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
Hang Seng Daily - Count #1

EW-Analysis The Hang Seng began a multi-month
corrective decline from the early-Sep.14 high of 25362.98
as minute wave 2. This is in response to wave 1s preceding
advance that began the next phase of the inflation-pop
from the Oct.11 low of 16170.35 whilst unfolding into an
uncommon leading expanding diagonal pattern. Wave 2s
decline is patchy so far, but with some elements of priceexpansion within the sell-off that occurred last month
from the secondary high of 24470.26. Subdividing this into
a five wav impulse, the sequence remains incomplete and
so this update suggests more downside potential towards
22230.77+/- to finalise a third wave that will eventually
become part of minuette wave [a] within a larger zig zag
pattern. Ultimate downside targets for wave 2 remain
towards 19204.06, the fib. 61.8% retracement level cutting
this by a fib. 61.8% ratio projects interim levels for wave [a]
to 21356.33.
fig 8 Hang Seng Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
10
India CNX Nifty 50 Daily - Count #1

EW-Analysis The Nifty 50 broke away from its highly
positive correlation with the Hang Seng last February
when the Nifty 50 began its upside acceleration from
5933.30. This outperformance period means the overall
advance that began earlier from the August 13 low of
5118.85 is unfolding into an expanding-impulse pattern,
unlike the Hang Sengs pattern that is part of a zig zag. The
Sep.14 high of 8180.20 has begun a forth wave corrective
decline within this ongoing five wave impulse advance
and labelled minor wave iv. four, is expected to unfold
into a zig zag during the next few months with downside
targets to the fib. 50% retracement level at 6967.00+/-.
The zig zag is labelled a-b-c in minute degree wave a
must ideally unfold into a smaller five wave pattern,
[i][ii][iii][iv]-[v] with wave [i] shown inset unfolding into
a leading contracting-diagonal pattern. This translates
into a short-term low forming towards 7750.00+/- but then
some upside response as wave [ii].
fig 9 India Cnx Nifty 50 Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
11
NIKKEI 225 Daily - Count #1

EW-Analysis The Nikkei is trading lower from its
May 13 high of 15942.60 into a multi-year corrective
expanding flat pattern labelled intermediate wave (4)
within its larger uptrend. Labelled a-b-c in minor degree,
the Sep.14 high at 16374.14 ended minor wave b. with the
following decline beginning the early stages of wave c.
with ultimate downside targets to 11971.40. Minor wave c.
must decline into a five wave impulse pattern, and from
the inset chart, the initial decline is shown unfolding into
a 1-2-1 sequence with a short-term low forming towards
current levels at 14560+/- (futures). A 2 nd wave rally is
expected to follow but afterwards, an accelerative 3rd-of3rd wave decline begins price-expansion.
fig 10 Nikkei 225 Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
12
US$-Index Daily - Count #1

EW-Analysis With stock market trading lower
following weaker economic data in the U.S., the dollar
index spiked lower during the early session to a low at
8447. This is exactly in line with our recent short-term
forecast for a deeper corrective pullback from the recent
high of 8674 {see inset chart, top-left}. The 8447 level trades
closely to the fib. 38.2% retracement level that defines
sub-minuette wave (iv). The strong response lifting
higher afterwards increases the probability that wave (iv)
completed and wave (v) is already resuming the dollars
uptrend. Should an additional decline break below the
8447 level, then look for an attempt to the fib. 50% support
at 8395 as outlined in the previous report.
fig 11 Us$-index Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
13
EUR vs. USD Daily - Count #1

EW-Analysis The US$ dollar sell-off following
weaker-than-expected U.S. retail sales and Empire State
manufacturing has had the effect of extending the Euro/
US$s counter-trend upswing that began from the recent
low of 1.2500. This is perfectly in line with recent updates
the initial advance to 1.2792 unfolded into a tiny zig
zag, but too small to complete a normalised fourth
wave correction more was deemed necessary for the
completion of sub-minuette wave (iv). Now that the Euro/
US$ has lifted to 1.2888, this minimum is satisfied even
though it still remains possible to extend to the original
fib. 50% retracement level at 1.2958. The larger trend
remains downwards though, and we ultimately expect a
resumption lower during the next several weeks.
fig 12 Eur Vs. Usd Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
14
USD vs. YEN Daily - Count #1

The US$/Yens sharp decline during Wednesdays trading
has been prompted by weaker U.S. economic indicators
and safe-haven buying of the Yen whilst stock markets
undergo an extended sell-off. What was only a three wave
sequence in the recent decline from the end-September
high of 11008 has now transformed into a five wave pattern
basis Wednesdays decline to 10519. This also translates
into the completion of primary wave 's entire upswing
that began from the Nov.11 low of 7556 at the same high,
11008. A multi-month decline is now in progress with
minimum downside targets that attempt fourth wave of
preceding degree towards the 10150 level. A short-term
corrective upswing is possible {see inset chart} but should
not be relied upon.
fig 13 Usd Vs. Yen Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
15
AUD vs. USD Daily - Count #1

EW-Analysis The Aussie/US$ continues to rangetrade but this is typical of fourth wave activity. Minor
wave v. five is engaged in a five wave impulse decline from
the July 14 high of 0.9506 with ultimate targets measuring
towards 0.8473-0.8376. This sequence began with a 1-2-1-2
pattern with the 3rd-of-3rd completion more recently at
0.8643. A 4-5-4-5 sequence must follow, but this fourth
wave is currently trapped into the trading range. The
0.8900 level has already traded so this can limit the fourth
wave retracement with a fifth wave decline already in
downward progress. Should the 0.8900 level be exceeded,
then look for the next resistance level at 0.9015, the fib.
50% retracement.
fig 14 Aud Vs. Usd Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
16
US 10yr Yield Quarterly - Count #1

EW-Analysis With weaker U.S. economic indicators
hitting the wire during Wednesdays session, yields
plummeted over 24bps to 2.730%, extending the overall
declines that were in progress from the reaction midSeptember high of 3.382%. Our benchmark US10yr yield
declined from 2.230% to a session low at 1.920%, a fall
of 31 bps huge! Our original counts for the US10yr
yield depicting a more modest decline to 2.183% for the
completion of primary wave s decline has been duly
negated. This has isolated the preceding upswing from
the all-time lows of 1.377% traded in July 12 as a three
wave pattern into the end-Dec.13 high of 3.043%. There is
now a realistic danger that yields are once again attracting
safe-haven buying whilst stock and commodity markets
sell off with the consequences that this decline continues
during the next few months to another record low. In this
update, we have taken the long-term picture of the US30yr
yield to portray this possibility with downside targets to
2.190%. This would equate to a modest break below the
current US10yr yield low of 1.377%. More to follow in our
next report.
fig 15 Us 10yr Yield Quarterly - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
17
DE 10yr Yield Daily - Count #1

The DE10yr bund yields extended below our downside
targets of 0.728% for the concluding sequence of
intermediate wave (3) as weaker U.S. economic figures
fed through the markets during Wednesdays trading.
The session low traded to 0.670 but given the extension,
fib-price-ratios are also adjusted. The original level to
0.728 was calculated by extending minor waves i-iv by a
fib. 61.8% ratio now, a fib. 61.8% correlative ratio is used
where i.-iii x 61.8% = v at 0.638. This is expected to test
within the next few days a response would then indicate
a counter-trend upswing has begun for wave (4) targets
towards 0.895.
fig 16 De 10yr Yield Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
18
Gold Daily - Count #1

EW-Analysis (spot bullion) A break above 1238.00+/resisnace level extended the counter-trend advance
that began from the early October low of 1182.90. This
upswing has transformed from a single zig zag into a
double zig zag Elliott Wave pattern that ended into the
recent high of 1250.05. This is a perfect test to a fib. 50%
retracement level of the preceding decline that began
from the early August high of 1323.06 and completed into
the 1182.90 low. Basis price respondnce to this level the
entire declining sequence has been reduced by one degree
suggesting less series of wave 4 and 5 are remaining to
complete the larger decline that began from the March 14
high of 1392.30. Despite this however, the larger outlook
remains unchanged ultimate downside targets are
measured towards 1096.48-93.15 and are expected to be
tested during the next several weeks. Only an accelerative
advance above the 1250.05 high would negate this forecast
and instead would suggest a more bullish intermediateterm outlook for the next few weeks prior to resuming
downwards to 1100.00+/- price area.
fig 17 Gold Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
19
Silver Daily - Count #1

EW-Analysis (spot bullion) A break above last weeks
high of 17.74 has extended the counter-trend advance that
began from the early October low of 16.67 into the recent
high of 17.82. The price development is best described as
unfolding into a three wave sequence that is the main
characteristic of a counter-trend move. An immediate
price rejection from this high (17.82) is required to confirm
the resumption of the larger declines towards original
downside targets of 16.46-16.15, max. 15.56. A failure to
accelerate lower during the next few days would weaken
this forecast and instead would suggest a larger countertrend advance will develop with upside limits to 21.60
prior to resuming the decline towards 16.46-15.56.
fig 18 Silver Daily - Count #1
Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89-21 02 07 11
Fax: +49 (0)89- 92 18 52 45
www.wavetrack.com
20
Crude Oil (NYMEX) Daily - Count #1

EW-Analysis Crude oil has staged the biggest daily
decline in more than three years. The International Energy
Agency cut its estimatetes for global oil demend growth
by 250000 barrels per day for the remainder of this year
and by 90000 for 2015. It also has stated that demand for
OPEC oil will decline by 200000 barrels per day for both
years. Such a fundamental change sent prices lower with
a recorded low at 80.01. But basis Elliott Wave analysis,
we assign a high probability the decline that began
from the August 13 high of 112.24 is quickly maturing
and the most accelerative phase as wave 3 within a five
wave declining sequence has completed into the recent
80.01 low. Should prices stage a reversal signature to the
upside, the following counter-trend advance is expected
to begin the balancing process with upside objectives
measured towards 89.62 a fib. 38.2% retracement level
of the preceding decline (107.68-80.01). Looking further
ahead, ultimately a test to 77.28 is expected to complete
the entire decline from the 112.24 high.
End Fin Ende
|
fig 19 Crude Oil (nymex) Daily - Count #1

WaveTrack International and its related publications apply R.N.Elliotts The Wave Principle to historical market price activity which categorises and interprets the progress of future price patterns according to this methodology.
Whilst it may be reasonable to deduce a course of action regarding investments as a result of such application, at no time or on any occasion will specific securities, futures, options or commodities of any kind be recommended
for purchase or sale. Publications containing forecasts are therefore intended for information purposes only. Any opinion contained in these reports is only a statement of our views and are based on information we believe to
be reliable but no guarantee is given as to its accuracy or completeness. Markets are volatile and therefore subject to rapid an unexpected price changes. Any person relying on information contained in these reports does so at
their own risk entirely and no liability is accepted by WaveTrack in respect thereof. All rights are copyrights to WaveTrack. Reproduction and / or dissemination without WaveTracks prior consent is strictly forbidden. We
encourage reviews, quotation and reference but request that full credit is given.

Kanalstr. 14
80538 Munich
Germany
Phone: +49 (0)89 21 02 07 11

Fax: +49 (0)89 92 18 52 45
www.wavetrack.com

Extended Report EW-Compass

Загружено:

Сведения о документе

Оригинальное название

Авторское право

Доступные форматы

Поделиться этим документом

Поделиться или встроить документ

Параметры публикации

Этот документ был вам полезен?

Это неприемлемый материал?

Авторское право:

Доступные форматы

Extended Report EW-Compass

Загружено:

Авторское право:

Доступные форматы

Th e El l iott Wave Pr inc ip le

Table of Contents {click on TOC text!}

NIKKEI 225 Daily - Count #1................................... page 12

The latest batch of U.S.

statistics released during Wednesdays

expansion, or a 3rd-of-3rd-of-3rd wave

the Eurostoxx 50 is working its way lower

recent weakness is only modest and seen as

WaveTrack Internatonal GmbH

80538 Munich Germany

Phone: +49 (0)89-21 02 07 11

Fax: +49 (0)89- 92 18 52 45

Th e El l iott Wave Pr inc ip le

Big news for the US$/Yen the dollars

we re-examine the long-term pattern of the

Gold prices turned

Elliott Wave perspective, the high at

WaveTrack International GmbH

Phone: +49 (0)89-21 02 07 11

Fax: +49 (0)89- 92 18 52 45

Th e El l iott Wave Pr inc ip le

S&P 500 Daily - Count #1

fig 1 S&p 500 Daily - Count #1

WaveTrack International GmbH

Phone: +49 (0)89-21 02 07 11

Fax: +49 (0)89- 92 18 52 45

Th e El l iott Wave Pr inc ip le

S&P 500 360 mins. - Count #1

fig 2 S&p 500 360 Mins. - Count #1

WaveTrack International GmbH

Phone: +49 (0)89-21 02 07 11

Fax: +49 (0)89- 92 18 52 45

Th e El l iott Wave Pr inc ip le

Russell 2000 Daily - Count #1

fig 3 Russell 2000 Daily - Count #1

WaveTrack International GmbH

Phone: +49 (0)89-21 02 07 11

Fax: +49 (0)89- 92 18 52 45

Th e El l iott Wave Pr inc ip le

Nasdaq 100 Daily - Count #1

fig 4 Nasdaq 100 Daily - Count #1

WaveTrack International GmbH

Phone: +49 (0)89-21 02 07 11

Fax: +49 (0)89- 92 18 52 45

Th e El l iott Wave Pr inc ip le

EuroStoxx 50 Daily - Count #1

fig 5 Eurostoxx 50 Daily - Count #1

WaveTrack International GmbH

Phone: +49 (0)89-21 02 07 11

Fax: +49 (0)89- 92 18 52 45

Th e El l iott Wave Pr inc ip le

Xetra Dax 30 Daily - Count #1

fig 6 Xetra Dax 30 Daily - Count #1

WaveTrack International GmbH

Phone: +49 (0)89-21 02 07 11

Fax: +49 (0)89- 92 18 52 45

Th e El l iott Wave Pr inc ip le

FTSE 100 Daily - Count #1

fig 7 Ftse 100 Daily - Count #1

WaveTrack International GmbH

Phone: +49 (0)89-21 02 07 11

Fax: +49 (0)89- 92 18 52 45

Th e El l iott Wave Pr inc ip le