USDJPY 1hr

The USDJPY is finally breaking out of consolidation and moving higher it what could be the start of a bullish 3rd wave.  Initial target is the 127 area.

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.

EURUSD Daily

The Euro is working its way lower and remaining under the moving averages with a steady series of lower lows and lower highs. the trend is firmly down with 1.05 as the initial target.

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.

S$P Futures 1hr

This morning's pop looks like a wave ii and now the bears can regain control, putting the market under heavy pressure the rest of the week.


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.

S&P Futures 1hr

S&Ps working lower, albeit slowly.  If the wave count above is correct, then prices should move sharply lower tomorrow, and possibly the rest of the week.  A push higher above 2110 means that the bulls have probably regained control and will push prices higher for a while.

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.

The wave count is playing out as expected. If correct, this wave count suggests a strong short term downtrend that should last a week or two.  The first target is 2056.

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.

S&P Futures Detailed Count

This is just another way to count the wave ((ii)) correction.  Although, the result is still the same as the chart I just posted a few minutes ago.


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.

S&P Futures 1hr

S&P futures are grinding higher but doing so on declining momentum as seen by the bearish divergence on the RSI.  It's now flirting with the 78% retracement, which is not uncommon for second waves to do, they tend to be sharp and deep affairs.  However, that's the maximum allowable area I'll give it.  The bears will need to wake up and attack this market early next week for this wave count to remain on track.

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.

USDJPY 1hr

USDJPY appears to have bottomed and ahead of my expected retracement level and pushed higher.  I'm looking for a target of where wave ((i)) = wave ((iii)) Fibo extension at around 127.07.

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.

EURUSD Daily

The euro continues to grind lower with lower lows and lower highs and staying under the moving averages. As long as that continues I favor the downside with an initial target of 1.0388.

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.

S&P Futures 1hr

S&P futures pushed up to the projected 61% Fibonacci retracement level and has stalled so far.  Looking for topping and reversal behavior to get short.


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.

S&P Futures 1hr Chart

Just getting a closer look at the S&P futures with a 1hr chart.  There's a fairly clean impulsive decline finishing its 5th wave with bullish RSI divergence for confirmation.  From there we have a clean 3 wave rise.  The rally is very indicative of a wave ((ii)) since 2nd waves tend to be very sharp.  It has also poked above the previous 4th wave, so this correction may be about complete by now.  I'm looking for some reversal action and eventually confirmation with a move below 2061.50.

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.

EURUSD Daily

The EURUSD has worked lower but has now bounced and is tangled up in the moving averages. I believe it's just a correction that will end soon and give way to my wave (3) target level of 1.0388 which is the 161% extension of wave (1).

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.

USDJPY

The USDJPY chart shows a strong move, correlated with the S&P rally, that has bree hed the moving averages and got my attention. The pair is now testing the support side of the moving averages so the behavior from here will be important to determine if wave ((ii)) is complete or not.


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.

S&P Futures

The S&P should have completed wave ((i)) with wave ((ii)) underway. His market is vulnerable to lower levels until 2034.75 is taken out.


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.

USDJPY Update

Quick update on my USDJPY post last night. Prices have pulled back, with the S&P, nicely towards the 50% Fibo retracement level as projected.  I still think there is more room to the downside for this pair towards at least the 122.45 area. you can also watch the action in the S&P for a potential bottom for queues on this pair as well.

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.