Opening Report – 25 June 2013

Markets fell sharply yesterday but FTSE still has that five wave decline, see chart below. This is a signal of a major trend change but also suggests a corrective rally. In Elliott terms we are now in a bear market and the decline in the T-Bond is now accelerating .

2. UK FTSE 100

FTSE is now at 6066 up 36 points. The chart below is important. We may have seen five waves down as per the main count but it is possible the current decline is a third of a third – see ALT count. Yesterday’s decline was fairly well contained and the main danger may be over but we are not out of the woods yet.

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3. The German DAX

The DAX is now at 7753 up 61 points. The wave pattern here is fairly confused but not looking good.

4. The US DOW

The Dow closed at 14659 down 139 points with the spread betters now quoting it at 14709 (+50). As FTSE has seen five waves down the Dow looks to have seen a complete A-B-C

5. The Japanese NIKKEI DOW

The Nikkei Dow closed this morning at 12969 down 93 points. I said that “if we have seen five waves down here it is now time for the corrective rally” and this is exactly what we appear to be seeing.

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6. US T-BOND

Bonds continue to trend down with another new low yesterday – but also something of a buying spike.

7. Gold ( UK cash)

Gold is trying to rally again but not very convincing at this point.

8. FOREX

On GBP/USD it looks like the peak is in here and we are now looking to add to our short position

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Opening Report – 11 June 2013

10h00 – Opening Report – 11 June 2013

2. UK FTSE 100

FTSE is now at 6354 down 45 points. We are still seeing third wave characteristics which is a negative [Read the full report]

3. The German DAX

The DAX is now at 8240 down 67 points. The pattern here is now positive, see chart below, suggesting this latest decline represents a BUYING opportunity [Read the full report]

4. The US DOW

The Dow closed at 15238 down 9 points with the spread betters now quoting it at 15193 (-45). The same pattern here suggesting a BUYING opportunity [Read the full report]

5. The Japanese NIKKEI DOW

The Nikkei Dow closed this morning at 13317 down 196 points. We now have an extended A-B-C decline [Read the full report]

6. US T-BOND

Bonds made a marginal new low [Read the full report]

7. Gold ( UK cash)

Gold is tracing a very confused pattern right now but overall the “rally” is corrective [Read the full report]

8. FOREX

GBP/USD is only seeing a feeble pullback so far suggesting a move above $1.56730 [Read the full report]

A SIMPLE TRADING SYSTEM ON THE DOW
Excelsior Service: Learn More: http://www.johnpipertrader.com/p/Excelsior-Dow-Service.html
The Dow opens at 2:30 in the afternoon so no early morning starts – you can trade at your leisure!