Dollar conditions right for a bounce

Our bullish analysis is a little controversial

Expect a crude oil correction

but there’s a more bullish alternative too

This could be the top in S&P 500

(The alternative is for it to extend considerably higher after a retrace.)

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Some of our recent posts:

British Pound Futures Update 2019-09-26

Sterling is dropping from a typical wave (iv) resistance but I doubt wave (iv) is complete as fours are often the most complex patterns. It is conceivable that it runs sideways for months. An alternate would be this is a fourth of lower degree, 'iv', and the next low 'v of (iii)'.

The Week Ahead: 2019-09-22

Primary view in bonds is that they are bouncing in wave 'b of (b)' and the bounce last week is probably just the first part of that choppy move. The next major cycle inflection is in January next year which I suspect will be the 'c of (b)' low.

The Week Ahead 2019-09-15

Bonds had a nice drop this last week which conforms to the forecast for a wave (b) retrace. Since the FOMC announcement and press conference is on Wednesday afternoon, I suspect we are nearing the end of the first wave of wave (b) at 156^25 or 154^20. Difficult to forecast the end of wave (b), but should make it to at least 150^17. Probably depends on if they intend to only drop into the next cycle inflection in early November, or go for the next in January of next year. I favor the latter but we will see.

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TOTM’s technical approach is grounded in Elliott wave and Gann techniques, while also making use of Fibonacci relationships in price and time, historical cycles analysis, proprietary technical indicators, and other more esoteric methods.

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