IN THE NAME OF ALLAH THE MOST GRACIOUS THE MOST MERCIFUL
- I WAS PLAYING AROUND WITH SOME WAVE COUNTS AND THIS IS THE ONE OF THE INTERSTING ONES THAT STOOD OUT. THIS IS OUR MAIN COUNT, I DO THINK IS STILL WORKING GOOD SO FAR, AND COMPATIBLE WITH THE END OF THE ECONOMIC CYCLE BETWEEN 2020-2021, ALSO COMPTIBALE WITH THE PREDICTIONS OF POTENTIAL RECESSION(ACCORDING TO THE FEDRAL RESERVE BANK OF NEW YORK THERE IS A 27% PROBABILITY OF A US RECESSION IN THE NEXT 12-18 MONTHS BASED ON DAY OF FIRST SUSTAINED INVERTED YIELD CURVE MAY 23,2019
- THERE ARE 3 CHARTS OF 3 STOCK MARKETS, THEY SEEM LIKE ONE HAND CHARTED THIS PRICE WAVES , ITS A GOOD INSTANCE OF POSITIVE CORRELATION
- CHART NO1: THE DOW JONES ON THE BIG PICTURE, WE HAVE MORE THAN ONE OF NON CONFIRMATIVE BULLISH PATTERNS, BUT HAVE HIGH PERCENTAGE OF UPWARD BREAKOUT , MOREOVER THE ELLIOTT WAVE COUNT FAVORS THAT WAY
- THE MOMENTUM INDICATORS LIKE RSI , DESPITE FALLING FROM ITS MEGA OVERBOUGHT TERRITORY, BUT STILL ABOVE UNDERLYING SUPPORT, AND REMAINS IN GAINS TERRITORY(ABOVE 50), ALSO HAS BEGUN TO MAKE HIGHER LOWS AND WAIT TO PENETRATE THE DESCENDING CHANNEL TO CONFIRM
THE UP TREND, AS WELL AS THE 50 MONTH (SMA), HISTORICALLY SINCE 1925 HAS BEEN SERVING AS A GREAT SUPPORT LINE, EVERY TIME DOW BOUNCED OFF 50 MONTH, PRICES SHOT UP AT MINIMUM 7000 PT ESPECIALLY FROM 1980S UNTIL NOW, SO 21450-21700 AREA IS THE KEY SUPPORT IN MEDIUM TERM
- CHART NO 2:MSCI ALL COUNTRIES AND CHART NO 3: MSCI EGYPT,NOTHING NEW TO MENTION, AND NOTHING OLD TO REAPT , SAME ELLIOTT WAVE COUNT AND ALMOST THE CLASSIC PATTERNS TOO, THAT MEANS EMERGING MARKETS HAVE A CHANCE TO RISE AND DONT RULE OUT THEY MAKE A NEW ALL TIME HIGHS
