Triangle Count on Brink; Euro Still Correcting

The triangle scenario is still intact although my confidence in it has weakened.  The market held up Friday and although it declined hard yesterday, it did so on light volume (about 900 million NYSE shares).  The Fed meets today (whoopie!) and talk tomorrow.  The market should be a bit whacky this week as a result.  There are numerous corrective options for this rally since the Minor wave 3 low and going over all over them would be tedious and pointless right now and just be a distraction.  The triangle above is only one of the options and I still hold it as top choice.  The bottom line is that 1258.07, the Minor wave 1 low, should remain intact no matter what correction is actually underway.

The euro continues to correct.  Sunday's down gap appears to have been filled today, opening the trap door for further declines in the euro.  The larger trend remains down but the short term corrective trend is still up for now.

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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.