The market did not follow through with the selloff in the EUR/USD, GBP/USD and Asia equity session. It appears this market wants to go higher. So we're back to the original count which needed another series of ups and downs to make the wave count look complete. That means that today's blip to the downside could be either part of a wave iv, or it was actually the entire wave iv and it's marching higher in wave v. Once complete, wave C of 2 should be done, and heavy selling should ensue for wave 3. I posted the S&P futures chart today because it's sporting the most clean EWP pattern I can see. As it makes new highs I'll be adding to my short positions.
I need more time to analyze currencies. I'm currently short the EUR/USD and GBP/USD and may take action on them in the near future. I'll post something if I make any changes.
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.
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