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AAPL (Apple) Elliott Waves showing the path & buying the dips

AAPL (Apple) was proposed to be in incomplete Elliott Wave 5 wave structure from the May 5th low, suggesting further rally once wave (4) completes. As EWF Technical analyst Hendra Lao explained in the Plus Daily Technical Video, the index was doing wave (4) pull back against the 91.53 low, looking for another swing lower toward 101.9-100.2 which would be good buying area if reached.

The day after, proposed technical area was reached and the Index found buyers, making sharp rally above the 08/16 peak as expected.
Keep in mind that Market is dynamic and the view could have been changed so far. If youre interested in the future path of AAPL, you can find a new Elliott Wave
analysis in membership area of EWF. ( If not a member yet, all you have to do is to Sign Up for Free 14 Days Trial )

Intel Slow Growth

Intel Corporation ( also known as Intel ) is one of the worlds largest and highest valued semiconductor chip makers around the world and is the inventor of the x86 series of microprocessors, the processors found in most personal computers .
Intel stock is traded in The NASDAQ Stock Market which was hit hard in the 2000 dot-com bubble crash , after that INTC kept going lower as the Corporation struggled in front of its major competitors like AMD , Nvidia , Samsung , Toshiba ect However after the 2008 financial crash INTC found a bottom in 2009 at 12.05 and started correcting the cycle from the 2000 peak , since then the stock did 3 waves bounce to the upside reaching 37.9 in late 2014 before pulling back in 3 swings and holding the 2009 trend-line to start rallying again.
Last Friday (09/16/2016) INTC broke above the 2014 high making the sequence incomplete with 5 swings ( its different from 5 waves rule used in Elliott Wave theory ) and calling for more upside to reach at least 50%-61.8% Fib retracement ( 43.83 51.36 ) , many of the Nasdaq components already retesting / breaking the 2000 high while Intel slow growth kept it around the 38.2% Fib retracement !! So the upside for INTC looks to be limited as it will be ending 5 or 7 swings around the inflection area shown on the chart and then it should make another 3 waves pull back at least.

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Jumping to the daily chart , INTC doing 3 waves from 08/24/2015 reaching equal legs area where it should ideally find seller for a pullback before higher while short term still suggesting that its only ending wave ((iii)) of C so there is still possibility for one more leg to end wave (W) around 39 area . The stock should remain supported in 2017 as far as pivot at 24.87 low remains intact suggesting dips in 3 , 7 or 11 swings could be bought for further upside .The surprise could come if it turns out that the stock is doing an irregular flat from 2014 peak so after ending current wave it will drop sharply in 5 waves before resuming higher.

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For further information on how to find levels to trade forex, indices, and stocks using Elliott Wave and the 3 , 7 or 11 swings technique, try us free for 14 days. You will get access to Professional Elliott Wave analysis in 4 different time frames, Daily Elliott Wave Setup Videos , Live Trading Room and 2 live Analysis Session done by our Expert Analysts every day, 24 hour chat room support, market overview, weekly technical videos and much more so if you are not a member yet, use this opportunity and sign up to get your ( free trial ). If you enjoyed this article, feel free to read other diversified articles at our Technical Blogs and also check Chart of The Day .

AAPL and the new iPhone 7

Announcement and Release of Apple iPhone 7
AAPL announced its new iPhone 7 on September 9, 2016 and it was released on September 16, 2016 in 30 countries around the world including the US and UK. Release of iPhone 7 is expected to happen in another 30 countries in another week. AAPL stock opened at 104.64 on September 9, 2016 (the day of announcement) and on September 12, reached a low of 101.77 after which it started an aggressive rally which broke above August 16, 2016 peak at 110.23 and made a new high for the year. It closed at 114.92 on September 16, 2016 which mean it has gained 9.8% since it was announced.
Historical performance of AAPL following release of an iPhone model
Historically, 6 months from the release date, AAPL has gained 19% on average and this increased to 23% on average 12 months from the release date. Only 2 of 11 releases so far (counting models released on the same date as a single release) generated negative 6 month returns, 7 generated positive 6 month returns and we still need more data for the last 2 releases. Talking about 12 month returns, only 3 out of 11 releases so far generated negative returns, 6 generated positive 12 month returns and we still need more data for the last 2 releases. Opening price on September 16, 2016 was 115.12 and if AAPL manages the average 6 month return following release on an iPhone model, it would be trading at 137.00 by March 15, 2017 and if it manages the average 12 month return following release of an iPhone model, it would end up at 141.60 by September 15, 2017. Past performance cant guarantee future results which means we need to take a look at the technical picture of the stock to get an idea about its future direction.

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Technical Picture
AAPL cycle from April 19, 2013 (55.01) ended on April 28, 2015 (134.54) after which the stock started pulling back and correct more than 50% of the cycle from April 19, 2013 low (see chart below). It reached a low of 89.47 on May 12, 2016 after which it has been rallying again, it has broken above the down trend line from April 2015 peak and also retraced more than 50% of the decline from April 2015 peak which means cycle from April 2015 peak is over at May 12, 2016 low. It remains to be seen whether this is the start of a new daily cycle higher or just another bounce into a sideways consolidation or a double correction from April 2015 peak. NASDAQ, the underlying Index, has already broken above 2015 peak which supports the idea of a new daily cycle starting but it does need to break above April 28, 2015 (134.54) peak to add more conviction to this view.


Dropping down to the 480 minute chart, we can count 5 swings up from 5.12.2016 low which makes it an incomplete sequence. We do want to point out that structure of the move up is not impulsive and there is no RSI (momentum) divergence between the proposed 3rd and 5th swing due to which these are not 5 waves, rather 5 swings. 5 swings is an incomplete sequence which makes Elliott wave swing sequence bullish against 9.12.2016 low. Thus, as far as pivot at 9.12.2016 low remains intact, we expect dips to remain supported and find buyers in 3, 7 or 11 swings looking higher towards 123.11 128.14 area to complete 7 swings up from 5.12.2016 low. Then, we should see a 3 wave pull back at least to correct the cycle from 9.12.2016 low and ideally from 5.12.2016 low.

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$AUDJPY Short-term Elliott Wave Analysis 9.22.2016

Short term Elliott wave count suggests that rally to 79.13 ended wave X. Decline from there is unfolding as a double three where wave ((w)) ended at 75.95 and wave ((x)) bounce is proposed complete at 77.53. While bounces stay below there, and more importantly below 79.13, expect the pair to extend lower towards 73.6 – 74.35 area. We don’t like buying the proposed bounce.

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USD strength is likely limited into FOMC meeting

The latest US Consumer prices number last Friday rose by 1.1 percent year-on-year in August 2016, which is above the market consensus of a 1% rise. This number is the biggest inflation figure in 4 months. Annual core inflation, excluding food and energy, rose to 2.3%, also above market expectation of 2.2%. Although both numbers beat expectation, the Fed is unlikely to hike the rates today and may opt to elect a December hike.
Recent commentary by the core FOMC members such as Yellen, Dudley, and Fischer suggested that the case for gradual rate normalization has become stronger, but they did not suggest a timeline. Meanwhile, the Fed’s doves Brainard and Tarullo said they want to see actual inflation to rise before making up decision to hike rates.
Indeed, the Fed Funds future now is only pricing in a 15% chance of a rate hike in September meeting. This means it will be quite a shock to the market if a rate hike is announced. The most likely scenario is the Fed may delay hiking the rate but use a firmer tone from this month through the year-end, when a rate hike finally may be announced. If there’s no rate hike on September, then the next FOMC meeting will be on November as there’s no FOMC meeting on October. The November meeting is too close to the presidential election that chances are they will wait until December 13-14 FOMC meeting to hike. If the Fed does hike the rate today, they will likely stress that future hike is going to be gradual and data-dependent. Thus, even in the case of a rate hike, the USD strength is maybe limited.
US Dollar Index Chart

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Looking at the weekly chart of the USD Index, the Index is trading inside the bearish channel starting from 11.30.2015 peak. As long as the Index stays within this channel, the USD strength is likely limited.
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$AUDJPY Short-term Elliott Wave Analysis 9.23.2016

Short term Elliott wave count suggests that rally to 79.13 ended wave X. Decline from there is unfolding as a double three where wave ((w)) ended at 75.95 and wave ((x)) bounce is in progress as a double three towards 77.77 – 78.15 area before the decline resumes. As far as pivot at 79.16 stays intact in the bounce, expect the pair to extend lower towards 73.6 – 74.35 area. We don’t like buying the proposed bounce.

Attached Image (click to enlarge)

At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

Nikkei $NKD Short-term Elliott Wave Analysis 9.27.2016

Short term Elliott wave count suggests that rally to 17173 ended wave (W). Decline from there is unfolding as a double three where wave W ended at 16300 and wave X bounce ended at 16880. Near term, Index is correcting cycle from 9/22 (16880) with potential target of 16542 – 16720 area, then as far as pivot at 16880 stays intact, expect the Index to resume lower or at least pullback in 3 waves. We don’t like buying the proposed bounce.

Attached Image (click to enlarge)

At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

The Case for Silver, Alexco, Hecla
Silver rose to a new high of 2016 in the second quarter as a result of strong investor and speculative demand amid an environment macro support for precious metals. Overall this year silver has been a star performer. White metal ingots outshone well, marking an increase of 37 % compared to 22% increase in Gold. Concerns about the global economy, market volatility Brexit actions induced, the position of the Federal Reserve to keep interest rates unchanged, and the introduction of negative interest rates by several central banks gave a boost to assets safe haven like gold and silver. Silver could continue to outperform gold in the coming months due to growing uncertainty about rate hikes after recent disappointing US data.
Silver has varied industrial applications driving demand significantly. Industrial demand for silver is expected to increase from 54 % last year. The growing interest in safe-haven assets also boost demand for physical silver investment. Demand in jewellery manufacturing will remain strong and India will emerge as one of the main consumers of courtesy greater investor interest and growth in jewellery, decorative items and manufacturing of cutlery. However, the upward trend in silver prices has ignited a massive rally in silver mining stocks this year, most of which have tripled.
Hecla Mining is USs leading producer of silver mines operating in Alaska and Idaho. The stock has outperformed the S&P 500 by 178.56% year to date. The company has a growth rate of expected long-term benefits of 1%. Last quarter, the company delivered a positive surprise of the benefits of 250%. Their average earnings positive surprise is 131.25% over the trailing four quarters. Pan American Silver, along with its subsidiaries is engaged in exploration, mine development, extraction, processing, refining, and the recovery of the silver mines. The stock has outperformed the S & P 500 by 148.72% year to date. The company has a growth rate of long-term benefits expected 4% and a positive surprise of 54.04% average earnings in the trailing four quarters. Among others, Alexco Resource Corp. and Athena Silver Corp AXU are the main engines AHNR year to date, obtaining 477 % and 327 %, respectively.

While last year, the slowdown in China and the consequent fall in prices of commodities miners had left in a lurch. The miners saw millions being expelled and following the drop in demand, the only way to stay afloat was to cost control. Saddled with debt, most of the miners had to sell under-performing assets. This year, the mining industry seems to be in better condition, having carried out a comeback. This year, gold and silver have been the main engines. However global production of mine supply is expected to fall 5% in 2016 the first decline in world silver mine production since 2002. The environment soft prices in previous years had dissuaded producers to invest in expanding capacity at existing operations. It is anticipated that world production of silver mine to decline until 2019 primary silver production as the most mature operations begins to decay. And many analysts are convinced that decline in production is just as signs of stabilization in Chinas economy fuel optimism for stronger global demand.
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The Progress of Emerging Markets
Since 2000 emerging markets and developing economies has grown rapidly becoming the driver of global growth , this progress is clearly confirmed in 2013 when emerging markets became the larger contributor in the global GDP and shifting the wheel of the world economy.

A study based on projected GDP at purchasing power parities (PPP) for the G7 economies ( United States, Canada, France, Germany, Italy, Japan, and the United Kingdom ) relative to the emerging E7 economies (China, India, Brazil, Russia, Mexico, Indonesia and Turkey) shows that by 2020 , E7 GDP will exceed G7 causing a new shift and reshape of the global economy.

Taking a look at a combined chart of EEM ( Emerging Markets Index ETF ) , XLE ( Energy Select SPDR ) , NIFTY ( National Stock Exchange of India ) and HSI ( Hong Kong stock market Index ) we can clearly see these instruments are heavily connected technically by its oscillating cycles and fundamentally by economic & politic interests . Since the 2008-2009 lows , markets has traded higher with some instruments breaking the all time highs and even with the recent years decline it’s still well supported trading above the 2008 financial crisis low. World indices and commodities bottomed early this year , then followed by a low in energy sector which was an important factor of many that supported the world economy ongoing recovery and especially the growth of emerging market.
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Nikkei $NKD Short-term Elliott Wave Analysis 9.28.2016

Short term Elliott wave count suggests that rally to 17173 ended wave (W). Decline from there is unfolding as a double three where wave W ended at 16300 and wave X bounce ended at 16883. Near term, while Index stays below wave ((x)) at 16605 and more importantly as far as pivot at 9/22 (16883) high stays intact, expect Index to resume lower towards 15748 – 15962 area to end cycle from 9/2 peak. We don’t like buying the Index.



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Elliott Wave Theory Structure : Double Three with a Contracting Triangle in the connector Wave B or X

As mentioned here before double three structures are common to see in the market and as it has been pointed out before they can also be the Elliott wave formation that a particular market instrument is trending in the larger degrees and time frames since some markets fail to display an impulsive Elliott wave count. With that said these structures also may be seen in any time frame and degree. In the graphic below is a bullish example which can be applied inversely for a bearish market condition.
As for the double three move in the graphic, the leading solid line can represent either a wave ((w)) or ((a)) of a larger degree B, X or a wave 2 . This leg up may be subdivided either as a zig-zag or a 7 swing w-x-y double three itself however an initial leg of a cycle will never be a stand alone triangle...
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Anyone making money trading Facebook Inc ?

After holding its initial public offering in February 2012, Facebook began selling stocks to the public in May 2012, as a part of Nasdaq stock exchange with initial price of $38 per share. In the next few months the share prices crashed more than 50%, bottoming at $17.55 and it took them more than year to recover and reach the initial price. Eventually, the price broke above $38 level and it developed a strong, 3-year-old bullish trend, where every pull back kept finding buyers at 23%-38.2% Fibonacci retracement area against the old time lows. Today Facebook is the most popular social networking site in the world based on the number of active user accounts with current market price of $127.35 per share.
In the further text were not going to discuss whether the current price of $127.35 per share is justified or not, but as of right now Elliott Wave structure doesnt look completed to the upside yet and the stock keep finding buyers in 3-7-11 swings. Larger time frames suggests the price is still in the cycle from the January low and it has potential to extend higher toward 139.88-147.37 area until end of the year.
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Short term Elliott wave count suggests that pullback to 42.74 at 9/16 ended wave X. The rally from there is unfolding as a double three where wave (w) FLAT ended at 46.52, wave (x) ended at 44.22 and wave (y) is in progress as a flat towards 48.1 – 48.9 area to complete wave ((w)) and end cycle from 9/16 low. Afterwards, expect wave ((x)) pullback in 3, 7, or 11 swing to correct cycle from 9/16 low before the instrument resumes higher again. We don’t like selling the proposed pullback.



At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

Oil $CL_F Short-term Elliott Wave Analysis 9.30.2016

Short term Elliott wave count suggests that pullback to 42.55 at 9/20 ended wave X. The rally from there is unfolding as a zigzag where wave (a) ended at 46.52, and wave (b) ended at 44.2. Instrument has reached 100% from 9/20 low and thus there’s enough number of swing and extension to call cycle from 9/20 completed although a marginal high still can’t be ruled out towards 48.5 – 49 area to complete wave ((w)). Once wave ((w)) ended, expect wave ((x)) pullback in 3, 7, or 11 swing to correct cycle from 9/20 low before the instrument resumes higher again, provided that pivot at 9/20 (42.55) low remains intact. We don’t like selling the proposed pullback.



At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

$FTSE Short-term Elliott Wave Analysis 10.4.2016

Short term Elliott wave count suggests that pullback to 6640 at 9/15 ended wave (X). The rally from there is unfolding as a zigzag where wave (a) ended at 6899.5, wave (b) ended at 6728.5, and wave (c) is in progress as 5 waves. Wave iii of (c) is proposed complete at 6958.5 and a pullback in wave iv of (c) is now expected to correct cycle from 8/30 (6771.2) low in 3, 7, or 11 swing before the Index turns higher again towards 6973 7030 area to complete wave (c) and also end cycle from 9/15 (6640) low. Afterwards, expect a bigger pullback in wave ((x)) to correct cycle from 9/15 (6640) low before Index turns higher again.



At EWF we offer 24 hour coverage of 50 instruments from Monday Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

$FTSE Short-term Elliott Wave Analysis 10.5.2016

Short term Elliott wave count suggests that pullback to 6640 at 9/15 ended wave (X). The rally from there is unfolding as a double three where wave (w) ended at 6899.5, wave (x) ended at 6728.5, and wave (y) of ((w)) is proposed complete at 7091.5. Near term, while bounces stay below 7091.5, expect wave ((x)) pullback in 3, 7, or 11 swing to correct cycle from 9/15 (6638.5) low before the Index resumes higher again, provided that 9/15 pivot at 6638.5 remains intact.



At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

Short term Elliott wave count suggests that pullback to 6640.3 at 9/15 ended wave (X). The rally from there is unfolding as a double three where wave (w) ended at 6899.5, wave (x) ended at 6728.5, and wave (y) of ((w)) is proposed complete at 7091.5. Near term, while bounces stay below 7091.5, expect the Index to continue lower in wave ((x)) pullback in 3, 7, or 11 swing to correct cycle from 9/15 (6638.5) low before turning higher again, provided that 9/15 pivot at 6638.5 remains intact. We don’t like selling the Index in proposed wave ((x)) pull back. If it makes a shallow pull back and extends higher, it can become a triple three structure in the blue cycle up from 6640.3 low.

Attached Image (click to enlarge)

At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

$TNX (10 Year Yields) Short-term Elliott Wave Analysis 10.11.2016

Short term Elliott wave count suggests that pullback to 1.542 at 9/28 ended wave X. The rally from there is unfolding as a zig zag where wave (a) ended at 1.77. The yields is now correcting the cycle from 9/28 low (1.542) before the rally resumes. Near term, while bounces stay below 1.77, expect the yields to continue correction lower in wave (b) before turning higher again. We don’t like selling the proposed pullback and prefer buying the dips in 3, 7, or 11 swing as far as pivot at 9/28 low (1.542) stays intact. Buying the 10 year yields is equivalent to selling 10 year notes ($ZN).

Attached Image (click to enlarge)

At EWF we offer 24 hour coverage of 50 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer

$TNX (10 Year Yields) Short-term Elliott Wave Analysis 10.13.2016

Short term Elliott wave count suggests that pullback to 1.542 at 9/28 ended wave X. The rally from there looks to be unfolding as a 5 wave move and could complete in 1.779 – 1.816 area. Afterwards, it would need to break below the red wave iv low at 1.718 to confirm wave (a) completed and wave (b) pull back would be expected to hold above 1.542 low for an extension higher. We don’t like chasing strength at current levels or selling the proposed pullback and expect to see buyers appearing in proposed wave (b) pull back in 3, 7, or 11 swing as far as pivot at 9/28 low (1.542) stays intact. Buying the 10 year yields is equivalent to selling 10 year notes ($ZN).

Attached Image (click to enlarge)

At EWF we offer 24 hour coverage of 52 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer