Elliott Wave Analysis covering: SPX, C, DAX, STOXX50, CAC40, MIB40, AEX, DBK, CBK, BARC, UK100
The interest rates are the backbone of the markets and this is clearly seen through the US banking sector which started to lift up off its lows in early 2016 in line with the US Indices. The European indices which hasn’t lifted as much as the US indices, still have the same Elliott wave structure pointing upwards, so there is some catching up to be done for the Euro Indices. The Euro banks CBK, DBK and BARC which we take a look at today, did not start to rise in line with the US banks in Jan 2016 but much later during the year, however they are moving up swiftly. Looking at the Elliott wave counts for Indices and Banks, we can expect to have a corrective pattern across the Christmas break, with the next real trend starting in the new year.
Extending his passion overseas, Peter travelled to Britain where he studied both the UK and US markets. When Peter returned to Australia, he updated his qualifications and went on to write and deliver advanced trading workshops for global leaders in foreign exchange and derivative trading, including CMC Markets, City Index, Invast and others. As a well-seasoned trader, with an aptitude for investor education, Peter obtained the necessary licences to establish TradingLounge and offer education and trading support to traders and investors.
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