Tuesday, November 10, 2009

SPX daily update


 This wave ii is still alive and the top is here! Seems hard to believe that we will not have new annual higher high but the surprises happens.


At big picture (bullish scenario) I began to work some (alternative) ideas and my primary is the possible test at the 114x's-115x's zone cause SPX still in the same pattern since August.

SPX intraday update (Part 1)


Not sure if wave ii already finished or it miss one last wave.

GBPUSD Update


Yesterday GBPUSD invalidate my last count so the bulls are with some problems to keep this last wave C alive. For now I don't have time to made a decent EW's count  update but at short time an emerging gartley bearish maybe is forming.
For the bull case this is just another abc and for the bearish case wave C finished and the downtrend will began.

SPX daily update

Expecting some (at least) pulback until the close but this not happen. So I change  my count , at short term, cause normally I like count this waves with gaps (cash), without any decent retracement and any negative divergence  as waves iii.

At short term the bulls are in control and seems a double top is possible. If SPX made new highs the odds suggest SPX is doing an irregular abc and the shorts could be covered at wave C (alternative count).