ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
13th June 2026 - Major indices sank Thursday then rebounded higher Friday as counter-trend recoveries followed five wave impulse declines across technology stocks including the benchmark Nasdaq 100. These ###corrections within larger declines that began from June highs are already nearing upside resistance levels – next week may well see a return of declines although we’re expecting these to be limited for the time being, a return back to Thursday’s lows then higher once again, as range-trading softens high volatility for another couple of weeks. This would synchronise well with gold prices – bullion also sank lower Thursday only to rebound Friday too - despite rallying $200 dollars, gold’s advance is an incomplete correction with more upside progress over the next couple of weeks, keeping rhythm with the S&P 500 and Nasdaq 100. Elon Musk’s SpaceX began trading today, it’s IPO launch at $135 was cheered by analysts - Oppenheimer became... Read full summary in our latest report!
Currencies (FX)
13th June 2026 - The US$ dollar index pushed discretely higher to 100.31 during Thursday’s session whilst completing a short-term zig zag upswing from Tuesday’s low of 99.67 – and combined with today’s decline to### 99.58, this activity completes an expanding flat pattern, a 4th wave correction within the prevailing five wave uptrend in progress as minuette wave [c] from the end-May low of 98.75. There’s been a comparable counter-trend upswing finishing this week in the Euro/US$ so there’s expectancy for a resumption lower next week although declines may be limited towards 1.1411+/- at this stage of minute wave 3’s decline within the Euro/US$’s diagonal pattern. Short-term Stlg/US$ is trading within a tight range as a...Read full summary in our latest report!
Bonds (Interest Rates)
13th June 2026 - Kevin Warsh chairs his first meeting as head of the U.S. Federal Reserve next week with markets increasingly pricing in the chance that stubbornly high inflation will mean U.S. interest rates go### up again in the coming months, rather than down. The US10yr yield meanwhile headed lower as U.S. president Trump called off threatened air strikes against Iran on Thursday while Iran’s Mehr news agency reported that final negotiations on the peace memorandum would focus on nuclear and economic issues but would exclude discussions about Iran’s missile programme. The US10yr yield can pull lower next week although downside progress is somewhat limited towards 4.340+/- ...Read full summary in our latest report!
Commodities
13th June 2026 - Gold succumbed to a rather panicked decline during Thursday’s sell-off to 4024.10 which included a 5th wave extension within sub-minuette wave (iii)’s five wave impulse downswing that began### from 4595.21 – wave (iv) is expected to continue higher next week ahead of resuming intermediate wave (4)’s overall zig zag decline that began from last January’s high. Silver is also running higher next week as a counter-trend rally targeting min. 71.86+/- or max. 73.72+/-. Once completed, a secondary [a]-[b]-[c] zig zag decline resumes lower to finalise minute wave 3 – downside targets unchanged towards 50.75+/-. U.S. President Donald Trump called off threatened...Read full summary in our latest report!
