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Is European Market Out of Synch with US?
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Today we have a sponsored message from: Ryse
RYSE and Shine: Don’t Sleep On This Smart Home Company
Ring 一 Acquired by Amazon for $1.2B.
Nest 一 Acquired by Google for $3.2B.
Smart home companies have seen some spectacular exits, yielding massive returns for early investors, yet one category in this burgeoning industry has eluded adoption - Smart Shades. High prices and complex installation procedures have prevented the mass adoption of smart shades despite their benefits, and one company is set to change that.
RYSE is the tech firm poised to dominate this category (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.75 has opened. Existing shareholders have seen their shares grow by over 20X, and their products have just launched in over 100 Best Buy stores.
Retail distribution was the main driver behind the acquisitions of both Ring and
Nest, and RYSE’s exclusive deal with Best Buy resembles that which led Ring and Nest to their billion-dollar buyouts.
Cycles suggest gasoline futures will get more expensive in the first 4-5 months of 2025.
European Stock Index Then
We have been tracking the Vanguard European Stock Index ETF, VGK, for several months.
VGK has been surprisingly strong this year, given the lousy economy in many European states, including Germany.
In late October, we finally suggested that VGK may have topped in a corrective, very bearish Elliott Wave pattern.
Check out some older newsletters on European Markets:
Europe Stock Index Now
It is time to revisit VGK as it is oversold on the daily chart but not yet oversold on the weekly chart.
The daily and weekly chart cycle composites suggest that VGK may bounce for several weeks or a few months.
Whether the anticipated bounce will achieve a lower or higher high is TBD.
Curiously, estimated VGK cycle composites are out of sync with the US stock market cycles composites, as shown before (see our YouTube videos).
The weekly VGK chart shows that VGK broke below the blue wedge, which is a bearish signal.
However, VGK is approaching a Fibonacci and chart support levels.
We can also see that it is approaching 100W and 200W MAs.
Thus, it is a natural area to bounce from not much below the present level.
How much can it bounce?
A natural target to bounce in black circle-ii is to the underside of the blue wedge before continuing to much lower levels into 2026.
Alternatively, I identified the orange Elliott Wave count as an alternative to a slightly higher high that can hit the upper trendline of the blue wedge or, ideally, the 61.8% retrace of the drop from the September high.
But even under the orange count, VGK should be headed to significantly lower levels in 2026.
Consider following me on X (former Twitter) in addition to the newsletter, as I often post valuable information there in real time between the newsletters. I post many informative charts and some real-time significance that cannot all find a place in the newsletter because of space constraints.
On Tuesday evening, I posted a possible small ending diagonal in progress that can complete a five-wave Elliott Wave pattern since the August low.
As of this writing, mid-day on Wednesday, Bitcoin is following the presumed ending diagonal path. We shall see, as diagonals are tricky and not very predictable.
A small ending diagonal can complete 5 waves up in #Bitcoin since Aug low, and also 5 waves up at higher degrees.
There is an alternated interpretation for one more (iv)-(v) sequence, but less likely.
#BTC $BTC #BTCUSD $BTCUSD #crypto#cryptocurrency#cryptomarket#cryptotrading… x.com/i/web/status/1…— BraVoCycles Newsletter (@BraVoCycles)
3:33 AM • Nov 20, 2024
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