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There are plenty of reasons why the US equity markets might be close to completing a major topping pattern right now.

A highly bullsih atmosphere prevails nows as is indicated by the trade-futures.com daily sentiment index.com which currently sits at 92% on their daily sentiment index, there are some very long term bearish daily MACD divergences that have continued to develop over the entire rally off the March lows of 2009 that are still yet to resolve.

Our analysis clearly indicates that there are a confluence of factors that are pointing a significant top forming right now with a great deal of downside potential if these patterns play out as we expect. Not the least of which is a clear elliott wave pattern that is either complete or close to in our view.

Today we have added our latest subscriber video short term update to this article for the readers to view at their convenience.

If you would like to receive daily video reports covering the short term elliott wave and technical analysis of the major US markets, Gold Trust, Oil Holders and USD Bullish please visit our service at www.eliottwavegms.com.    We also cover all major global markets, currencies and commodities in our monthly forecast report as well cover our portfolio stocks by way of weekly video update.

If our analysis is indeed correct, once we top here there should be a signifcant decline almost universally across the board from stocks to commodities to most currencies that run counter to the US dollar, which is looking good to us at ths time.

In today’s report we also take a closer look at the gold trust (GLD),  the oil service holders (OIH) and finish with a quick wrap up of the action in the $VIX.

For more information and detailed reports please visit our service at www.elliottwavegms.com.  We offer a fully inclusive service at only $29 per month and combined with our risk-free no hassle 60 day money back guarantee makes the service great value.

From Elliott Wave Global Market Service

Taking an objective look at the S&P500 it would appear likely that there are plenty of reasons why these markets might be close to completing major topping patterns right now. In our view, it is looking increasingly likely the S&P500 is again set for another significant swoon in prices at any time now in what is likely to be a very strong second down wave in a much larger downtrend move.

With the use of a combination of Elliott Wave Theory and technical analysis we can identify that the majority of technical evidence is indicating a range of larger bearish topping chart patterns forming now, patterns that are likely to lead to swift declines to much lower prices.

Most interestingly, there are now forming a confluence of factors that are pointing to significant tops forming right now with a great deal of downside potential if these patterns play out as we expect - and in most cases declines look set exceed 60% of current price levels in most markets over the longer term. On short term analysis, a range of topping patterns appear to be close to completion now and are indicative of a 10-20% crash move developing at any tim.

Other than a host of technical indicators and bearish technical chart patterns, the most obvious indication of a major move lower is a near complete bearish Elliott Wave count, that if correct will usher a larger crash move in the near term

Rather than go through the individual detail, I have decided to attach to this article a special copy of an S&P500 Forecast Video from the 28th of June that details the prevailing technical evidence indicating lower prices directly ahead.

If you follow the markets and use either Elliott Wave or technical analysis for the basis of your trading and you would like to receive daily video reports covering the short term Elliott wave and technical analysis of the major US markets, Gold Trust, Oil Holders and USD Bullish then please visit our service at www.elliottwavegms.com. We also cover all major global markets, currencies and commodities in our monthly forecast report in addition to our portfolio stock service by way of weekly video update.

We are currently offering A WEEK OF FULL MEMBERSHIP FREE to all visitors who register only their first name and email address.  To get full immediate access to the full range of video forecast reports for click here GET ONE WEEK OF FULL MEMBERSHIP FOR FREE!

Paul Thomason

Founder, Elliott Wave Global Market Service

From Elliott Wave Global Market Service

Taking an objective look at the major US equity indexes it would appear likely that there are plenty of reasons why these markets might be close to completing major topping patterns right now. The US markets are again looking increasingly likely to start yet another major move down, and this time the move lower is likely to usher new lows, much lower new lows.

By using a combination of Elliott Wave Theory and technical analysis we can identify that the majority of technical evidence is indicating a range of larger bearish topping chart patterns forming now, patterns that are likely to lead to swift declines to much lower prices.

Most interestingly, there are now forming a confluence of factors that are pointing to significant tops forming right now with a great deal of downside potential if these patterns play out as we expect - and in most cases declines look set exceed 60% of current price levels in most markets over the longer term. On a shorter term basis, a range of topping patterns appear to be close to completion now and are indicative of a 10-20% crash move developing at any time.

Other than a host of technical indicators and bearish technical chart patterns, the most obvious indication of a major move lower is a near complete bearish Elliott Wave count, that if correct will usher a larger crash move in the near term

Rather than go through the individual detail of each market I have decided to attach to this article a copy the Short Term Forecast Report from the 14th of June that details the prevailing technical evidence indicating lower prices directly ahead.

If you are a market follower and use either Elliott Wave or technical analysis for the basis of your trading and you would like to receive daily video reports covering the short term Elliott Wave and technical analysis of the major US Markets, Gold Trust, Oil Holders and USD Bullish then please visit our service at www.eliottwavegms.com.  Of course, we also cover all major global markets, currencies and commodities in our monthly forecast report in addition to our portfolio stock service by way of weekly video update.

We are currently offering A WEEK OF FULL MEMBERSHIP FREE to all visitors who register only their first name and email address.  To get full immediate access to the full range of video forecast reports for click here GET ONE WEEK OF FULL MEMBERSHIP FOR FREE!

Paul Thomason

Founder, Elliott Wave Global Market Service