Elliott Market Waves

Thursday, November 19, 2009

As promisse in the morning here is the EUR/USD update.
This is my best count and as i belive we had a truncation at 1.505 i think we go down.

SPX daily update

After this day everthing still the same (see my last updates below) so I decide made some projections based on the "big picture" and find some interesting results. The principal conclusions are:

a) Since this wave Y began, all tops were done at 4-5 days with some distribution and at same range. So the odds suggest this wave "a" will finished between 1015-1025 at friday or next monday.

b) The range between sub wave "a" and "c" of each wave (blue) increased +-10 points. So the odds suggest the mayor top (P2 end) maybe will be at 116x'a points.

GBPUSD Update

This is a potential daytrade for GBPUSD based on harmonic patterns.
EDIT: Pattern invalidated.

Despite this my "big picture" (bearish) still the same.

Wednesday, November 18, 2009

Choppy choppy choppy... triangle.

Tuesday, November 17, 2009

At short term my potential expanding triangle seems turn to a potential inverted H&S's. Meanwhile I change a little my count and now prefer considerate this last wave as the end of iii. So this wave "a" maybe will finished between 1120-1130. At same time I see potential gartley bullish at euro. So, for tomorrow, the odds suggest new highs at SPX. The big picture remains the same.