Elliott Market Waves

Wednesday, December 16, 2009

SPX is close to end an impulsive wave. So if this happen wave (ii) or b already began.

SPX daily update

Nothing new to add. It's possible this correction already finished but I prefer some king of double zig zag and one test at 1101 (50 % Fibonacci retracement since 1085).

Tuesday, December 15, 2009

Seems wave (i) or "a" finished yesterday. Today SPX may have some pullback and then will see if this is a true wave iii or wave "c" of "e" (see my last post with the big picture options).

Monday, December 14, 2009

Laterization is the name and for now seems the bulls are winning this battle at short term. After 1 month at this "battle zone" the bulls have everthing to conquer another territory. On the other hand the bears need a good selloff and conquer the 1085 points.

At "big picture" I will keep my primary count but at same time will began to take attention at my alternative count. So with these two charts the top of this P2 may will be between the 113x's and the 116x's.

EUR/USD weekend update

Sunday, December 13, 2009

This is my primary count. In green you can see my alternative count.

As Filipe had show some are considering my truncation as a II, but for now i will put that option in 3º place since i don't know how to count the last up move in that option.

good luck

EDIT (by Filipe): At the "big picture" (monthly chart) the harmonic analysis suggest the possible formation of one or two bearish patterns.

GBPUSD Update

Friday, December 11, 2009

The waves are too choppy to count as wave iii so it's possible GBPUSD is doing a double zig zag. The bearish option is wave i of iii is underway as a leading diagonal (replace c for a; x for b and now c is underway).

P.S. My last charts in SPX still in play. You can see these at here.

EUR/USD ALTERNATIVE

Thursday, December 10, 2009

For now i don't like the action in this possible II, so i present you with my alternative count.

Good luck

EDIT: Alert of a possible "diamond" in SPX. Still not confirmed

SPX intraday update (Part 1)

My primary count says wave ii of C finished yesterday.

EDIT: Another alternative count to keep in mind.

SPX Daily Update

Wednesday, December 9, 2009

Hi again.
To minimize my work I had the idea of only changing yesterdays background picture with todays one. Just check it :)

And the market dropped today. I fell the correction coming to an end as we almost hit 61,8 level. My count is saying that we could still spike down to complete 5th wave.

Best to your trading.
PH