WaveTrack International

Elliott Wave Financial Price Forecasting

Nikkei-Biotech

by WaveTrack International| August 5, 2016 | 4 Comments

NBI Biotechnology | Nikkei 225 - Daily

NBI Biotechnology | Nikkei 225 – Daily

Unlikely Partners – late-June lows trade just a few pips below February low – major Elliott Wave significance.

This positive-correlation chart ties together the most unlikely partners. What connection is there between the NBI Biotechnology index and the Nikkei 225 index? Probably little, but the correlation is very distinct.

What is most impressive is the way that each index declined just a few points below the Feb.’16 lows during the late-June, post-Brexit sell-off. When this occurred for the Nikkei, it effectively negated the concept of ending primary wave 4’s counter-trend decline from last years’ high earlier, into the Feb.’16 low. It means that a zig zag into the Feb.’16 low is currently being balanced by a corrective pattern prior to beginning another, secondary zig zag to even lower levels.

The NBI index has outperformed relative to its April high, but as it also declined marginally lower last June, this is simply an expanding flat correction prior to the commencement of another, severe decline to lower lows.

Get access to WaveTrack’s bi-weekly Elliott Wave Compass report featuring many short-term updates of all 4 asset classes!
Successful trading with WaveTrack International
Subscribe to the EW-Compass here…

Comments

  • Praveen Vishnu Shamain

    Hi,

    Any particular reason why site/blog is not getting updated after August 25th, 2016?

    With Regards,
    Praveen

    • We prepared some important work and are now resuming the normal updates from 13th September 2016 onwards! Hope this helps and wishing you a beautiful day!

      • Praveen Vishnu Shamain

        Thank you ! Looking forward to your regular updates.

About WTI

WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

Subscribe to our feed

WTI Links

Search