Wednesday, May 16, 2012

S&P and Euro Updated


I don't have confidence in the short term count in labeling waves i and ii.  It suggests a flat correction for a second wave which is very rare.  Also, wave C (not shown) finishing wave ii was a diagonal that was truncated.  This is also unlikely.  But I see no better way to label it at the moment.  I'm concerned I might be trying to shove a round peg in a square hole here.  But regardless of the little EWP nuances for wave i and ii, the overall price action suggests that larger trend remains down for the short term.  So I would be selling into strength with a stop just above 1415.32. 

Learn Elliott Wave Principle (EWP)




The euro is respecting this Jedi Knight and is doing exact what I say.  The forecast continues to call for further selling toward 1.2600, and probably much much further after that.  I'm staying short!

The Manic-Depressive Stock Market: What to Make of It


PLEASE NOTE: THIS IS JUST AN ANALYSIS BLOG AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. THE DATA HERE IS MERELY AN EXPRESSED OPINION. TRADE AT YOUR OWN RISK.

1 comment:

chang long said...

nice idea.. thanks for posting.

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