Transportation update

Dow transportation seems to be cooperating with other index counts.
For those who don't believe in P3, at least a C wave down should be made.
Check euro too. We are sited in the daily trend line, and it make me think that we should correct to the upside making wave 2 or b.

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Transportation update

Just a little update of the transportation friends.

Best to your trading
PH

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Dow Transportation and Nasdaq 100 update

Hi friends. Had to change my count for a little more bear view. The "respectable" channel was seriously violated, and for now i anticipate at least one more leg down.
Don't get fooled. Primary trend is still up so i won't recommend any kind of short positions in this market. I think 38% fibo around 62,50 may be a sweet spot to start taking long positions again.
Same goes to Nasdaq. If my wave degrees were correct we should resume the trend shortly. If not, then blue is rose and rose is yellow, meaning that we could hit the 50 or the 61,8 fibo next week.

Best to your trading
PH

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Hello friends.

In the sequence of my weekend update i leave you the Dow transportation index chart. I think rose wave 4 is done and that we have started a final sequence of waves. Plus, there's a pretty nice channel that deserves "maximum respecto" ;)

Best to you trading
PH

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SPX daily update (by PHneutral)

Hello friends.
In complement of my friend's work i will leave my view of the markets.

Fridays movement was an impulse up (and some correction) and that make me suspect that this market has a little bit more to go. We can't be correcting impulsing up, we just can´t. In my charts in try to justify this sentence in Friday's weakest of the indicies, the Nasdaq.

In resume I believe that we can go higher in direction of 1040/1050 on SPX and that we can be developing an extended blue wave 5. If we start correcting... oh well, a new count is always possible even against the probabilities. Can´t wait for Monday :)

Best to your trading.
PH

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