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Thursday, 19 October 2006
This article is updated every two weeks. If you wish to
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click here.
Dow Jones Industrials
^DJI Daily
(Screenshot provided with the permission of Elliottician.com)
Wave 3 of the Primary degree Impulse with a good rating of
136.5 is expected to complete in the price range 12060.69 to 28128.93, but more
probably between 12925.07 and 17643.51. This wave could complete anytime between
now and 20-Jun-2022, but is most likely to complete sometime between 26-Jul-2007
and 18-Sep-2009.
Once this wave 3 is complete, expect the market to pull back into wave 4, which
is corrective in nature and is generally a sideways movement. Wave 4 should not
retrace back into the price range of wave 2, and will often have a similar price
range to wave 2. Expect wave 4 to retrace wave 3 by 20% to 50%, with the most
likely target of about 38.2%. Wave 4 will often retrace into the price territory
of the previous wave 4 of one lesser degree. Expect the time taken by wave 4 to
be anything from 100% to 270% of the time taken for wave 2. After wave 4, expect
wave 5 to move beyond the end of wave 3 to complete this Impulse.
Wave III of the Cycle degree Impulse with a rating of 102.4 is expected to
complete in the price range 11382 to 23631.22, but more probably between
11738.58 and 15429.4. This wave could complete anytime between now and
20-Apr-2012, but is most likely to complete sometime around 26-Jul-2007.
Once this wave III is complete, expect the market to pull back into wave IV,
which is corrective in nature and is generally a sideways movement. Wave IV
should not retrace back into the price range of wave II, and will often have a
similar price range to wave II. Expect wave IV to retrace wave III by 20% to
50%, with the most likely target of about 38.2%. Wave IV will often retrace into
the price territory of the previous wave IV of one lesser degree. Expect the
time taken by wave IV to be anything from 100% to 270% of the time taken for
wave II. After wave IV, expect wave V to move beyond the end of wave III to
complete this Impulse.
Wave (c) of the Supercycle degree inverted Zigzag with a low rating of 77.3 is
expected to complete in the price range 10681.47 to 26648.38, but more probably
between 10794.95 and 15157.56. This wave could complete anytime between now and
11-Feb-2010, but is most likely to complete sometime around 26-Jul-2007.
This wave (c) will complete the ZigZag pattern.
FTSE 100
^FTSE Daily
(Screenshot provided with the permission of Elliottician.com)
Wave b of the Cycle degree Flat with a rating of 111.3 is
expected to complete in the price range 5936.1 to 6806.8, but more probably
between 6103.6 and 6404.9. This wave was expected to complete before
31-Aug-2006, and must complete by 05-Jul-2007.
After wave b is complete, expect the market to continue down into wave c, which
should be a five wave Impulsive pattern. Expect wave c to be about the same
length as either wave a or wave b.
Wave (IV) of the Supercycle degree Impulse with an exceptional rating of 285.7
is expected to complete in the price range 5181.3 to 6030.9, but more probably
between 5621.6 and 6016. This wave is due to complete anytime from now until
04-Feb-2011, but is most likely to complete before 20-Nov-2006.
Once this wave (IV) is complete, expect the market to continue up to the end of
wave (V), which will probably be an Impulse but could be an Ending Diagonal.
Wave (V) must retrace wave (IV) by at least 70% and will usually move beyond the
end of wave (III). The most likely price targets for wave (V) will be 61.8%,
100%, 161.8% and 261.8% of the price length of wave (I). Expect wave (V) to be
less than wave (IV) both in price and time. Wave (V) will complete the Impulse.
Hang Seng Index
^HSI Daily
(Screenshot provided with the permission of Elliottician.com)
Wave b of the Cycle degree Flat with a rating of 109.4 is
expected to complete in the price range 16691.35 to 19452, but more probably
between 17222.25 and 18177.85. This wave was expected to complete before
08-Aug-2006, and must complete by 19-Mar-2007.
After wave b is complete, expect the market to continue down into wave c, which
should be a five wave Impulsive pattern. Expect wave c to be about the same
length as either wave a or wave b.
Wave (b) of the Supercycle degree inverted Zigzag with a good rating of 123.3 is
expected to complete in the price range 8331.87 to 15529.11, but more probably
between 11030.83 and 14629.46. This wave could complete anytime between now and
07-Jan-2027, but is most likely to complete sometime between 24-Sep-2007 and
13-Oct-2009.
After wave (b) is complete, expect the market to continue up into wave (c),
which should be a five wave impulsive pattern. Expect wave (c) to fully retrace
wave (b) and be about 61.8%, 100% or 161.8% of wave (a) by price range, with
100% the highest probability. Another probable target price for wave (c) is
61.8% of the price range of wave (a) beyond the end of wave (a). The expected
time for wave (c) to complete is between 61.8% and 161.8% of the shortest wave
of this pattern by time.
Nasdaq Composite
^IXIC Daily
(Screenshot provided with the permission of Elliottician.com)
Wave (b) of the Supercycle degree inverted Zigzag with a
high rating of 188.4 is expected to complete in the price range 1108.49 to
2122.12, but more probably between 1488.6 and 1995.42. This wave could complete
anytime between now and 18-Sep-2030, but is most likely to complete sometime
between 06-Dec-2007 and 11-May-2010.
After wave (b) is complete, expect the market to continue up into wave (c),
which should be a five wave impulsive pattern. Expect wave (c) to fully retrace
wave (b) and be about 61.8%, 100% or 161.8% of wave (a) by price range, with
100% the highest probability. Another probable target price for wave (c) is
61.8% of the price range of wave (a) beyond the end of wave (a). The expected
time for wave (c) to complete is between 61.8% and 161.8% of the shortest wave
of this pattern by time.
Nikkei 225
^N225 Daily
(Screenshot provided with the permission of Elliottician.com)
Wave (V) of the Supercycle degree Impulse is expected to complete in the price range 16508.01
to 61738.15, but more probably between 17563.37 and 21994.3. This wave is due to
complete anytime from now until 13-Aug-2025, but is most likely to complete
before 05-Nov-2012.
This wave (V) will complete the Impulse pattern.
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