Elliottwave-Forecast.com - Official Thread w/ Analysis Blogs

Platinum (PL) Correction Remains In Progress
Platinum (PL) is still correcting cycle from 9.1.2022 low before the rally resumes. We also present an alternate view if the pivot at September 2022 low (796.8) fails. If it breaks below 796.8, it suggests a bigger correction against March 2020 low. In the higher time frame, the metal is in a bullish grand super cycle move higher against March 2020 low.
https://elliottwave-forecast.com/vid...ains-progress/

GBPUSD : Sell Trade Hits Targets
On October 4 2023 I posted on social media @AidanFX ” Sold GBPUSD at 1.21684 Stop Loss at 1.21784 Target at 1.21384.”
SELL Trade Setup
1. Price entered the 1 Hour supply zone area signalling a reversal move lower. (Pink)

https://elliottwave-forecast.com/aid...its-targets-4/

USDCAD : Catching the 80 Pip 1:4 Risk/Reward Move Higher

On September 24 2023 I posted on social media @AidanFX a USDCAD 15 Minute chart signalling for buys on a dip lower.
BUY Trade Setup
1. Trending up on a higher high / higher low sequence signalling bullish bias.
https://elliottwave-forecast.com/aid...d-move-higher/

NVDA Looking for Zigzag Correction


Short Term Elliott Wave in Nvidia (NVDA) suggests the stock ended wave IV correction at 407.24. The stock has turned higher in wave V with internal subdivision as a 5 waves impulse. Up from wave IV, wave 1 ended at 428.2 and pullback in wave 2 ended at 416.29. The stock extended higher in wave 3 towards 441.44 and pullback in wave 4 ended at 433.07. Final leg higher wave 5 ended at 451.75 which completed wave (1).

Pullback in wave (2) is now in progress to correct cycle from 9.22.2023 low in 3, 7, or 11 swing before the rally resumes. Internal subdivision of wave (2) is unfolding as a zigzag structure. Down from wave (1), wave ((i)) ended at 434.99 and wave ((ii)) ended at 451.30. Wave ((iii)) ended at 429.54, wave ((iv)) ended at 436.97 and wave ((v)) lower ended at 427.27. This completed wave A in higher degree. Expect wave B rally to end soon and the stock to turn lower in wave C before ending wave (2). As far as pivot at 407.24 low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.

NVDA 45 Minutes Elliott Wave Chart

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NVDA Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...ag-correction/
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Domino’s Pizza (DPZ) Is Showing a Blue Box For Selling Opportunities
Domino’s is an American multinational pizza restaurant chain. Founded in 1960, the chain is owned by master franchisor Domino’s Pizza, Inc (DPZ). As of 2018, Domino’s had approximately 15,000 stores, with 5,649 in the United States, 1,500 in India, and 1,249 in the United Kingdom. Domino’s has stores in over 83 countries and 5,701 cities worldwide.
https://elliottwave-forecast.com/sto...e-box-selling/

S&P 500 ETF (SPY) Has Ended Correction and Turned Higher


Short Term Elliott Wave in S&P 500 ETF (SPY) suggests that the ETF has ended correction in wave ((4)) at 418.81. The decline from 7.27.2023 high unfolded as a zigzag Elliott Wave structure. Down from 7.27.2023 high, wave (A) ended at 433.01 and wave (B) ended at 453.67. Wave (C) lower subdivided into 5 waves impulse. Down from wave (B), wave 1 ended at 442.75 and wave 2 ended at 451.08. Wave 3 lower ended at 422.29 as the 45 minutes chart below shows. The ETF then rallied in wave 4 which ended at 432. Final leg lower ended wave 5 at 418.81 which also completed wave (C) of ((4)) in higher degree.

SPY has turned higher in wave ((5)). Up from wave ((4)), wave ((i)) ended at 425.45 and pullback in wave ((ii)) ended at 419.70. The ETF extended higher in wave ((iii)) towards 431.13 and pullback in wave ((iv)) ended at 421.18. Expect wave ((v)) to end soon which should also complete wave 1 in higher degree. Then it should pullback in wave 2 to correct cycle from 10.4.2023 low in 3, 7, or 11 swing before the rally resumes. Near term, as far as pivot at 418.81 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

SPY 45 Minutes Elliott Wave Chart

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SPY Elliott Wave Video


Source: https://elliottwave-forecast.com/new...turned-higher/
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Silver Miners ETF (SIL) May Have Started to Turn Higher
Silver Miners ETF (SIL) has ended the correction to the cycle from March 2020 low on Sept 26, 2022 low at 21.26. It is retesting the low on Sept 26, 202. As far as it stays above there, the ETF can start turning higher. We will take a look at the Elliott Wave view of the ETF below:
https://elliottwave-forecast.com/sto...turned-higher/

Will Costco Wholesale (COST) Continue to See Further Strength?
Costco Wholesale Corporation., (COST) engages in the operation of membership warehouse in the United States, Puerto Rico, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China & Taiwan together with its subsidiaries. It offers branded & private label products in the range of merchandise categories. It also operates e-commerce websites in the US, Canada, UK & many other countries. It is based in Issaquah, Washington, comes under Consumer Defensive sector & trades as “COST” ticker at Nasdaq.
As shown from the previous article, COST expected further upside in ((iii)) of 3 of (3) of ((1)). It needs to breaks above ((I)) high of $ 612.27 to confirm the bullish sequence.
https://elliottwave-forecast.com/sto...ther-strength/

Tesla (TSLA) 5 Swing Sequence Favors Upside


Short Term Elliott Wave in Tesla (TSLA) shows that the rally from 8.18.2023 low is in progress as a 5 waves impulse. Up from 8.18.2023 low, wave (1) ended at 278.99 and dips in wave (2) ended at 234.58. The stock has turned higher in wave (3). Up from wave (2), wave ((i)) ended at 254.77 and pullback in wave ((ii)) ended at 239.35. The stock resumed higher in wave ((iii)) towards 263.6 and dips in wave ((iv)) ended at 250.65.

Wave ((v)) is in progress as another impulse in lesser degree. Up from wave ((iv)), wave (i) ended at 261.65 and pullback in wave (ii) ended at 252.05. Expect the stock to extend higher 1 more leg to end wave (iii), then it should pullback in wave (iv) before it resumes higher again in wave (v) to complete wave ((v)) of 1 in higher degree. Afterwards, it should pullback in wave 2 to correct cycle from 9.28.2023 low before it resumes higher again. Near term, as far as pivot at 234.55 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Tesla (TSLA) 45 Minutes Elliott Wave Chart

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TSLA Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...favors-upside/
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Advanced Micro Devices ($AMD) Found Buyers After a Corrective Pull Back.
Hello everyone. In today’s article, we will look at the past performance of the 4 Hour Elliott Wave chart of Advanced Micro Devices, Inc. ($AMD). The rally from 10.13.2022 low unfolded as a 5 wave impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:
https://elliottwave-forecast.com/sto...ive-pull-back/

EURJPY Reacted Strong From The Blue Box Area
In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of EURJPY. In which, the rally from 28 July 2023 low unfolded as an impulse sequence and showed a higher high sequence. Therefore, we knew that the structure in EURJPY is incomplete to the upside & should extend higher. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:
https://elliottwave-forecast.com/for...blue-box-area/

S&P500 (SPX) Found Buyers At The Equal Legs Area
Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of SPX published in membership area of the website. As our members know, S&P500 is trading within the cycle from the October’s 3492.7 low, which is unfolding as 5 waves structure. Recently we got 3 waves pull back which found buyers right at equal legs area as we expected. In the further text we are going to explain the Elliott Wave Forecast
SPX 4h Elliott Wave Analysis 09.21.2023
SPX is doing wave (4) blue pull back. The index is correcting the cycle from the 3839.7 low. Pull back looks incomplete at the moment. We expect another leg down toward 4274.7-4114.5 area to complete the correction.
Reminder: You can learn about Elliott Wave Rules and Patterns at our Free Elliott Wave Educational Web Page.
https://elliottwave-forecast.com/sto...rs-equal-legs/

10 Best Defensive Stocks to Invest in 2023
A defensive stock is a stock that demonstrates relatively stable performance regardless of the current state of the economy. Defensive stocks are also called non-cyclical stocks, as they are less prone to the economic cycle of expansions and recessions. Defensive stocks will come with a steady dividend payment and a more constant share price.
Defensive stocks are stocks that provide consistent dividends and stable earnings regardless of the state of the overall stock market. They tend to be more stable during the various phases of the business cycle. Some key characteristics of defensive stocks are:

1. Stable performance: Defensive stocks do not follow the economic cycle during expansions and recessions. They provide slow and steady growth with minimal peaks and valleys.
2. Consistent dividends: Defensive stocks tend to provide dividends in both bull and bear markets, which can help you have a steady revenue stream.
3. Low volatility: Adding defensive stocks to your portfolio helps reduce volatility. They protect your portfolio from major losses when the economy turns downward.
4. Industries: Defensive stocks are found in industries that offer goods and services that consumers continue to utilize even when the economy is not doing well. These include utilities, consumer staples, healthcare, and more.

https://elliottwave-forecast.com/sto...ensive-stocks/

S&P 500 Futures (ES) Impulsive Rally Favors the Bullish Side

Short Term Elliott Wave in S&P 500 Futures (ES_F) suggests that cycle from 7.27.2023 high has ended with wave (4) at 4235.5. The Index has turned higher in wave (5). The rally is currently in progress as a 5 waves impulse Elliott Wave structure. Up from wave (4), wave ((i)) ended at 4304 and pullback in wave ((ii)) ended at 4242.35. The Index then extended higher again. Up from wave ((ii)), wave (i) ended at 4358.5 and wave (ii) dips ended at 4299.5. Wave (iii) ended at 4381, wave (iv) ended at 4366.25, and wave (v) ended at 4419 which completed wave ((iii)). Pullback in wave ((iv)) ended at 4377.25.

Up from wave ((iv)), wave (i) should end soon. Then the Index should see a wave (ii) pullback before two more highs in wave (iii) and (v). This should complete the larger degree wave ((v)) of 1. Afterwards, expect wave 2 pullback to correct cycle from 10.4.2023 low before it resumes higher. Near term, as far as pivot at 4235.5 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

ES 45 Minutes Elliott Wave Chart

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S&P 500 Futures (ES) Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...-bullish-side/
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Silver (XAGUSD) Pullback May See Buyers and Resume Higher

Short Term Elliott Wave in Silver (XAGUSD) suggests cycle from 5.5.2023 high ended with wave ((2)) at 20.65. Internal subdivision of wave ((2)) unfolded in a double three Elliott Wave structure. Down from 5.5.2023 high, wave (W) ended at 22.1 and wave (X) ended at 25.26. Wave (Y) ended at 20.65 which completed wave ((2)) as the 45 minutes chart below shows. The metal has turned higher in wave ((3)).

Up from wave ((2)), wave ((i)) ended at 21.39 and pullback in wave ((ii)) ended at 20.67. The metal resumes higher in wave ((iii)) towards 22 and dips in wave ((iv)) ended at 21.55. Final leg higher wave ((v)) ended as a diagonal at 22.23. This completed wave 1 in higher degree. Wave 2 pullback is now in progress to correct cycle from 10.3.2023 low before the metal resumes higher. Internal subdivision of wave 2 is unfolding as a zigzag structure. Down from wave 1, wave ((a)) ended at 21.74. Expect wave ((b)) to fail below 22.23 and the metal to turn lower in wave ((c)) before ending wave 2 correction. Near term, as far as pivot at 20.64 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Silver 45 Minutes Elliott Wave Chart


Silver (XAGUSD) Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...resume-higher/
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$NKLA: Nikola Corporation Preparing Acceleration
Nikola corporation is an US American manufacturer of heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions. The company delivered first two battery-electric trucks in December 2021. In 2022, Nikola has projected deliveries of between 300 and 500 of its battery-electric semitrucks — known as the Nikola Tre — to customers. Like Tesla, Inc., the company is named in honor of Nikola Tesla, Founded in 2014 and headquartered in Phoenix, Arizona, USA, the stock can be traded under ticker $NKLA at NASDAQ.
Nikola Weekly Elliott Wave Analysis 10.12.2023
The Weekly chart below shows the Nikola shares $NKLA traded at NASDAQ. From the IPO, the stock price has developed an impulse higher in blue wave (I) of a super cycle degree. It has printed the all-time highs on the June 2020 at $93.99. From the highs, a correction lower in blue wave (II) has unfolded as an Elliott wave zigzag pattern. Firstly, red wave a has printed a low in July 2020 at $29. Secondly, from the low, red wave b reached higher towards September 2020 highs and became a bull trap. Thirdly, from $54.56 highs, red wave c has broken below $29 lows. It shows an overlapping pattern of an ending diagonal being 3-3-3-3-3 structure.
It is the the preffered view, that correction in red wave (II) has ended in June 2023. While above 0.52 lows, next bullish cycle in blue wave (III) has started. The target will be towards 95-153 area and beyond.
https://elliottwave-forecast.com/vid...-acceleration/

Boeing (BA) Looking to End Impulsive Decline Soon


Short Term Elliott Wave in Boeing (BA) suggests the decline from 8.1.2023 high is unfolding as a 5 waves impulse. Down from 8.1.2023 high, wave 1 ended at 212.88 and wave 2 rally ended at 231.17. The stock then extends lower in wave 3 towards 182.55, and wave 4 rally ended at 199.65. Internal subdivision of wave 4 unfolded as a zigzag. Up from wave 3, wave ((a)) ended at 188.64 and pullback in wave ((b)) ended at 185.68. Final leg wave ((c)) higher ended at 199.65 which completed wave 4.

The stock has resumed lower in wave 5 with internal subdivision as a 5 waves impulse. Down from wave 4, wave ((i)) ended at 194.27 and rally in wave ((ii)) ended at 196.99. The stock extended lower in wave ((iii)) towards 183.18 as an impulse. Down from wave ((ii)), wave (i) ended at 191.6 and rally in wave (ii) ended at 193.68. The stock resumed lower in wave (iii) towards 185.55 and wave (iv) rally ended at 188.59. Final leg wave (v) ended at 183.18 which completed wave ((iii)). Bounce in wave ((iv)) ended at 186.91.

Expect the stock to extend lower 1 more leg in wave (v) to complete wave ((v)) of 5 of (A). Afterwards, it should rally in wave (B) to correct cycle from 10.11.2023 high in 3, 7, or 11 swing before the decline resumes. Near term, as far as pivot at 199.65 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.

BA 30 Minutes Elliott Wave Chart

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Boeing (BA) Elliott Wave Video

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Source: https://elliottwave-forecast.com/new...-decline-soon/
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NASDAQ Futures Reacting From Equal Legs Area
In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of NASDAQ futures ticker symbol: $NQ_F. In which, the rally from 27 September 2023 low unfolded as a nest and showed a higher high sequence supported more upside. Therefore, we knew that the structure in NASDAQ is incomplete to the upside & should see more strength. So, we advised members to buy the dips in 3, 7, or 11 swings at the extreme areas. We will explain the structure & forecast below:
https://elliottwave-forecast.com/sto...ual-legs-area/

Boeing (BA) Looking to End Impulsive Decline Soon
Short Term Elliott Wave in Boeing (BA) suggests the decline from 8.1.2023 high is unfolding as a 5 waves impulse. Down from 8.1.2023 high, wave 1 ended at 212.88 and wave 2 rally ended at 231.17. The stock then extends lower in wave 3 towards 182.55, and wave 4 rally ended at 199.65. Internal subdivision of wave 4 unfolded as a zigzag. Up from wave 3, wave ((a)) ended at 188.64 and pullback in wave ((b)) ended at 185.68. Final leg wave ((c)) higher ended at 199.65 which completed wave 4.
The stock has resumed lower in wave 5 with internal subdivision as a 5 waves impulse. Down from wave 4, wave ((i)) ended at 194.27 and rally in wave ((ii)) ended at 196.99. The stock extended lower in wave ((iii)) towards 183.18 as an impulse. Down from wave ((ii)), wave (i) ended at 191.6 and rally in wave (ii) ended at 193.68. The stock resumed lower in wave (iii) towards 185.55 and wave (iv) rally ended at 188.59. Final leg wave (v) ended at 183.18 which completed wave ((iii)). Bounce in wave ((iv)) ended at 186.91.
Expect the stock to extend lower 1 more leg in wave (v) to complete wave ((v)) of 5 of (A). Afterwards, it should rally in wave (B) to correct cycle from 10.11.2023 high in 3, 7, or 11 swing before the decline resumes. Near term, as far as pivot at 199.65 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.
https://elliottwave-forecast.com/new...-decline-soon/