Elliott Market Waves

Monday, November 23, 2009

The waves aren't clear but at short term DAX showed some weakness signals. It's the P2 beginning at DAX? I don't think so. Only see some correction pattern despite waiting for a new lower low.

SPX daily update

Since the 1113 I can see in cfd's chart only one abc. For the moment it's possible a double zingzag once I count on another indices five waves down since last week highs (e.g. DAX).

Saturday, November 21, 2009

Is raining... it's cold but is weekend. So enjoy it! Good weekend to all :).

Friday, November 20, 2009

Seems GBPUSD started mayor correction and first target for this new trend is the 1.56 as you can see in this chart.

Today's action suprise me and now may primary count suggest wave b begans. Since beginning of wave "a" I had some problems to label some subwaves in cfd's charts. Despite this, cash charts are more clear and some indicators suggest this is mayor correction (wave b).
The beginning of this wave b complicate (again) the count but I like this cause fits very well with my big picture,

EUR/USD UPDATE

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.