DAX daily update
Friday, January 16, 2009

The count of DAX and SPX are similar, so we began today this wave ii.

The count of DAX and SPX are similar, so we began today this wave ii.
Now we began this countertrend (wave ii) but i need more data to resolve this puzzle. However, I think this wave ii final target could be between the 50% or 62% of Fibonacci.
Nice setup for the VIX. This can means that the first wave had finished or will be finished briefly.

Maybe this first wave of this downtrend had finished.

Looks like a triangle. Possible target 820 point.

I think maybe SPX (CFD's) has finished the wave v but in SPX (Cash) is still missing this wave. So, i don't have hurry to close my short positions . On the other hand, this sub wave v seems to me more an abc wave and also can be an irregular wave iv.
Nothing new to comment. I think tomorrow maybe this wave (sub wave v) will come an end . I will chanche my puts to calls on the 81x's or 82x's.
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