Elliott Wave 5.0 "Reboot"

Thursday, January 21, 2016

Another Great Canadian Dollar Bear Trap!

This was the bigger degree wave count from the 18th , but the CAD traveled a bit lower to the .68100 price level before it turned yesterday and now has started a rocket move. 

The higher this goes or the longer any rally will take, the less likely it will see another record bear market low.  The US dollar may have upside in it and that could indicate a move back to stock mania. 
Our CAD has crashed a long way and this Tuesdays bullish consensus report hit an extreme of 6%. 
I personally have not seen a bullish consensus report that low.  I will no longer be reporting on any new bullish consensus developments as I only could get a three month deal at this time, and it has now run out.  Any of the donor money after $60 I will earmark 4 months to this great report. 

Any push to the downside I will look for corrective patterns which then would dictate that the our CAD has another leg up.