Elliott Wave Intermarket Update Feb 15 2020

By Fernandno Luna

Stocks are green but still showing signs of correcting in C of an expanding flat which could take the index down to the 3177 previous iv wave.   The 10 year is cutting out a nice triangle while at a bearish juncture.  The CRB is pulling back in what should be a corrective 2 wave before it continues its downward march.  Oil is trying to put together a corrective 2 or B also but can’t muster the strength to get up.  Looks bearish as hell for commodities as a whole.  So much for inflation?!  Go figure.  BTC is dipping red today but still looks very bullish from the Daily.  Its well above the 10000 mark and should be resuming its bullish walk soon.  The Euro is stinking again this week and looks like it might be stinking the joint out for a good while.  If it gets past the 1.0880 Oct 1st 2019 low and down through the lower channel tend line, the pair will most likely be in a 3rd wave drop which could take the major to parity!

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