Today’s Australian Elliott Wave and TradingLevels Analysis video takes a long term look starting with two of the US's driving markets: SP500; and Citi Group – one of the major US financial companies, as banks can be central to markets because they are part of the money flow.
Starting today’s SP500 Elliott Wave count in the bigger picture before the year 2000 and tracking this wave count from 1000 - 2000 points and onwards which are Major TradingLevels, this is tracking the 2009 SPX low 665 after the GFC and counting five wave upwards to a series top around 2018, this current structure has completed four of the waves and is now in the fifth wave which started in 2016.
There are many markets that have started trends on this 2016 low such as the US banks, European Indices and Aussie stocks like BHP and RIO in the resource sector. European banks started their run up much later in the year and Australian banks later still, but they are all expected to top at the same time and this is what we look at today lining up the last of the Elliott Wave structures for the SP500, US banks, Australian banks and resources.
Once you finally grasp the size of the correction to come in 2018 you will start to consider where you will place portfolio funds and it certainly doesn’t look like shares or property, but short term government treasury notes as an example.
Here at TradingLounge we will look to being large bear players and hope you can join us in this journey.
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