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The NAVIGATOR - ‘RE-SYNCHRONISATION’

In This Edition:

Stock Indices – In this month’s edition of the Elliott Wave Navigator, we take an in-depth look at the gains in U.S. indices both from the grand ‘RE-SYNCHRONISATION’ lows of Feb.’16 and from the post-Trump election lows of November ’16. Are recent advances into new record highs justified? We examine historical P/E ratios and factor in new inflationary pressures through the lens of the PCE (deflator) index. We also update U.S. GDP forecasts, its impact on the progress of the stock market uptrend and attempt to dispel the increasingly voiced warnings from perma-bear analysts. This report introduces the AAII historical bullish sentiment readings and why this portends much more upside potential for the secular-bull outlook. And finally, U.S. sector outperformance analysis.

Currencies – An update of the US$ dollar’s location within its overall advance from the March ’08 low – the probability of ending this advance last January versus the prolongation into the March/April ’17 cycle-peak. The Euro/US$’s equivalent prospects in declining below parity and the remaining course and direction of the remaining G4 currencies. We conclude with an updated look at the Brazilian Real, Mexican Peso and South Africa Rand.

Interest Rates – Annual reports have already confirmed a new 30-year uptrend began from long-dated yield lows of July ’16. This report updates the progress of the US10yr yield, the significance of last December’s peak, and upside targets for the remaining period of 2017. The US10yr TIPS Breakeven Inflation Rate forecasts are updated along with some important changes to European benchmark long-dated yields, the DE10yr.