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Eric Morera

Walmart (NYSE: WMT) Looking to Find Buyers During Pullbacks

Walmart (NYSE: WMT) Looking to Find Buyers During Pullbacks January 17, 2020 By In today’s article, we’ll be taking a look at the current  for the world’s largest retailer Walmart (NYSE: WMT). Since August 2019, WMT rallied within an impulsive 5 waves advance which took the stock to new all time highs before the cycle ends on November at $125.69. Down from there, it started a correcting lower that unfolded in 3 waves move as a which reached the equal legs area at $113.7 – $108.6. The blue boxes presented in the chart is a High-frequency area where the instrument is likely to end cycl...

Eric Morera

FCX Elliott Wave View: Buying The Wave 4 Pullback

FCX Elliott Wave View: Buying The Wave 4 Pullback January 15, 2020 By In this technical blog, we are going to take a look at the past performance of 1 hour  Charts of FCX, which we presented to members at . In which, the rally from 9 October 2019, showed an impulse sequence with right side tag pointing higher favored more strength. Therefore, our strategy remains to buy the Elliott wave dips in 3, 7 or 11 swings into the direction of right side tag to complete the 5 waves impulse structure. We will explain the forecast & structure below. FCX 1 Hour Elliott Wave Chart From 12/20/2019 ...

Eric Morera

​ Swiss Franc Strengthens After Being Added Back to US Watch List

Swiss Franc Strengthens After Being Added Back to US Watch List January 16, 2020 By Swiss Franc strengthens on Tuesday, January 14 2020, after the US Treasury Department added Switzerland to its watch list for countries labelled as “currency manipulator” alongside other countries such as Germany, Ireland, Italy, Japan, Malaysia, Singapore, South Korea and Vietnam. This is not the first time Switzerland has been added to the watch list. In 2016, US added the country to the list after it abandoned its Euro peg. Two years later, in 2018, the US Treasury Department removed it from the list...

Eric Morera

Soybean May Benefit From US – China Phase 1 Trade Deal

Soybean May Benefit From US – China Phase 1 Trade Deal January 16, 2020 By With the official signing of Phase 1 trade deal between US and China today, we may have seen the worst in Soybean’s market at least in the short term. This of course assumes that China can commit to the agreement and US doesn’t take another measure. However, it seems safe to say that the tit-for-tat trade war should cease for the time being. With Phase 1 trade deal, China’s soybean import should revert to normal and may even rise significantly. China has also scrapped the import tariff for Soybean. China is the...

Eric Morera

Using Market Correlation to Time The Entries

Using Market Correlation to Time The Entries January 9, 2020 By Last year turned out to be great for GBP crosses as they managed to put in strong rallies in favor of GBP since December 2018 lows or highs. In this article, we would concentrate on two of the GBP crosses namely GBPAUD and GBPNZD because the rallies last year in these two instruments managed to break above their respective October 2018 high which created an incomplete bullish sequence. Let’s start by taking a look at the chart of GBPAUD below which shows the cycle and number of swings up from October 2016 low GBPAUD Ellio...

Eric Morera

NQ_F Buying Elliott Wave 4 Dip in Blue Box Area

NQ_F Buying Elliott Wave 4 Dip in Blue Box Area January 8, 2020 By NQ_F (Nasdaq Futures) made a sharp decline yesterday evening after New York closing and then reacted higher in a very strong manner. Our preferred Elliott wave count treats the dip last night as a Minor wave 4 and now we are expecting the Index futures to be trading higher in Minor wave 5. Earlier this week, we saw 3 waves down from the peak at 1.2.2020 (8907.25) so we called wave 4 completed and started calling higher in wave 5. Let’s take a look at the chart below. NQ_F 1 Hour Elliott Wave Update 1.7.2020 Chart belo...

Eric Morera

Advanced Micro Devices INC: $AMD Reaching Target Area

Advanced Micro Devices INC: $AMD Reaching Target Area January 8, 2020 By Advanced Micro Devices INC ($AMD) has been in a tremendous rally since the lows in 2015. The Instrument is rallying within the Grand Supercycle, and the target is between $50.32-$61.81 area. We have been calling this target for the last four years. We did the following explaining the idea. At that time, the Instrument was trading around $24.00, but the path was clear to the upside into the $50.32 area against the lows at $1.61. As we always said, the Market does not move in a straight line and always works as a w...

Eric Morera

$SMH Elliott Wave and Longer Term Cycles

$SMH Elliott Wave and Longer Term Cycles January 9, 2020 By $SMH Elliott Wave and Longer Term Cycles Firstly as seen on the monthly chart shown below. There is data back to May 2000 in the ETF fund. Data suggests the fund made a low in November 2008. This low has not been taken out in price. The cycles in this instrument tends to reflect the Nasdaq index fairly well however it has a larger degree difference in that the Nasdaq made a low to correct the cycle from the all time lows in October 2002 compared to the all time low made in November 2008 in the SMH semiconductors. Secondly th...

Eric Morera

Crude Oil Prices Jump as Middle East Tension Escalated

Crude Oil Prices Jump as Middle East Tension Escalated January 6, 2020 By Crude Oil prices jumped by more than $2 after US drone strike killed top Iranian general. Fears mount that Iran may target the oil industry infrastructure across the region in the event of further tit-for-tat escalation. Last year, there were precedent that Iran or its proxies targeted oil facilities and shipment. Iran has seized two oil tankers in the Strait of Hormuz. Additionally, Iran-backed Houthi rebels also claimed responsibility for the drone attack which crippled Saudi’s oil facility. The drone attack ha...

Eric Morera

Hecla Mining (NYSE: HL) Impulsive Rally in Progress

  Hecla Mining (NYSE: HL) is a mining company engaged in the exploration and development of mineral properties also the mining and processing of silver, gold, lead and zinc. Since May 2019, HL established a strong reversal after it ended the decline since 2016 peak and started a new bullish cycle. the stock traded higher within an which is currently still in progress within wave 3 of ((3)) with a short term target at $3.56 – $3.87. As the stock is still in the process of correcting the decline from 2016 peak then ideally it’s expected to revisit $4.4 – $6.1 area this year before a large...

Eric Morera

RTY_F (Russell Futures) Buying dips in Blue Boxes

  January 6, 2020 By Russell Futures (RTY_F) decline ended cycle from 12/3 and started pulling back. It dropped in 3 waves to 1659.40 and bounced. The bounced appeared corrective so we called for a double three Elliott wave correction lower which was valid as far as price stayed below 12.27.2019 (1687.80). Below, we will present a series of charts to show the correction unfolded and how blue boxes proved to be critical bouncing areas. Russell Futures (RTY_F) 1.2.2020 1 Hour London Chart Price did manage to hold below  12.27.2019 (1687.80) peak and Index futures turned lower after f...