Elliott wave analysis of AUD/NZD - Upside acceleration expected

AUD/NZD - Monthly

AUD/NZD - Weekly

AUD/NZD - Daily

AUD/NZD - 4 Hourly 

Upside acceleration expected 

AUD/NZD saw a long-term low in April 2015 at 1.0020 and has since building a solid base from where to rally strongly higher. 

From an Elliott Wave point of view wave 1 of the 1.0020 low completed at 1.1429 and was followed by a deep and time comsuming wave 2 zig-zag correction that bottomed in September 2016 and since then wave 3 higher towards 1.2958 has been building. The start of this wave 3 has been building a series of waves 1 and 2 and it finally seems that a series of wave 3's is ready to unfold.

This means upside acceleration first to important resistance near 1.1420, but once this resistance is taken out, the way higher towards 1.2958 seems to be free of major hurdles. 

Short-term minor resistance is seen at 1.1020, but once this minor bump is overcome the next target to look for is important resistance near 1.1420. 

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Elliott wave Analysis - Time for a stock index correction

S&P 500 - Daily

S&P 500 - Weekly

DJI - Daily 

DJI - Weekly

Nikkei 225 - Weekly

Nifty 50 - Weekly 

Time for a stock index correction 

Most of the global stock indices has rallied nicely since early 2016. A rally that only has seen minor corrections especially lately and especially for the US stock indices. 

But it looks as a peak is near and renewed downside pressure should be seen shortly. The S&P 500 and the DJI is only expected to experience minor corrections, whereas the Nikkei 225 and the Indian Nifty 50 likely is running into more serve corrections in the months ahead. 

Even-though I only look for a temporary correction for the US-indices and do expect new rallies to new all-time highs later this year, we should be approaching an important peaks and a more sever corrections. 

Going back to the March 2009 lows, a five rally can be counted in both the S&P 500 and the DJI, so it's only a question of time before a long-term peak is in place. 

So this is not the time to be overly bullish stocks.