Not time to do any chart but i covered again my shorts due DAX and CAC made correctives patterns. So for SPX cash i think this wave ii will be made like abcde and in cfd's is doing wave b of ii. Maybe it's missing one last wave to do the 92x's.
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Maybe is missing one wave to finished this wave iv.
SPX cash is more bearish than SPX cfd's. So my primary count is that. First SPX may correct something and then go up to finished this wave ii. This last up side
is in agreement with the new highs on DAX. Will be the last breath of the bulls on short time frame?
Not change my count but until the 925's i will increase my shorts again (covered my shorts at 880 and enter long until 905).
P.S. For DAX this chart is still valid
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEholwimTRKyJsjQoeO5CjBNlHLD9ED84u02GwDhQJ3jlQi06jw_TMaS76djvLLGPsVV5q0yuMgocOydGjocF3r0ciiB0gkL-kjUowgAmVb2jRZBmOovr8WSIaBL2ukoyf3q-NmvvHHoj1ml/s1600-h/dax.jpg
EDIT on 27/05/2009: Make more sense this count.
I haven't words that describe this pattern :))).
My last SPX update is still valid so i expected another test at 87x's area and then maybe new upside with out new higher high.
Moreover everybody sees an H&S's but despite being also short on SPX i will be very careful and see the reaction at the 870x's area.
Finally had time to count DAX and the patterns are messy. So i will be careful with my shorts cause this pattern is corrective and at same time i can see a possible inverted H&S's. To invalidate my count the 465x's points must be broken hardly. Maybe DAX will do another higher high when spx complete the wave ii of his downtrend.
This DAX movement (cash), since the highs (5060 points), looks like corrective (wedge) so maybe DAX can do another high to finished this uptrend.
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