Elliott Wave Global Market Service – Short Term Report 20th April 2010
It is looking increasingly likely in our view that US equity markets are topping here.
Besides the relatively extreme levels of bullish sentiment according to trade-futures.com which currently sits at 92% on their daily sentiment index, there are some very long term bearish daily MACD divergences that have continued to develop over the entire rally off the March lows of 2009 that are still yet to resolve.
If our analysis is accurate and we believe it is, there is a significant amount of downside potential if a top completes here. Not the least of which is a clear elliott wave pattern that is either complete or close to in our view.
Today we have added our latest subscriber video short term update to this article for the readers to view at their convenience.
If you would like to receive daily video reports covering the short term elliott wave and technical analysis of the major US markets, Gold Trust, Oil Holders and USD Bullish please visit our service at www.eliottwavegms.com. Further, we deliver video analysis of all major global equity markets, currencies and commodities along with a weekly portfolio stock video report.
If our analysis is indeed correct, once we top here there should be a signifcant decline almost universally across the board from stocks to commodities to most currencies that run counter to the US dollar, which is looking good to us at ths time.
In today’s report we also take a closer look at the gold trust (GLD), the oil service holders (OIH) and finish with a quick wrap up of the action in the $VIX.
For more information and detailed reports please visit our service at www.elliottwavegms.com. We offer a fully inclusive service at only $29 per month and combined with our risk-free no hassle 60 day money back guarantee makes the service great value.
