Wednesday 14 December 2011

Still looks corrective but eurusd has different opinion.

 EURUSD has broken important support and is falling hard. Targets below 1,29 are very feasible. Green downward trend line should hold if trend is to continue down.






DJI has overlapping waves. Still looks corrective but if these waves are a couple of one-two's, we would expect a huge 3rd....however both coloured lines should be respected if either broken. If purple one is  broken then our bearish view will have diminished chances.
SPX has the same overlapping waves but again it still has to break the blue trend line and the high of 1266 to give bulls a chance to see 1300. This is my alternate scenario. Holiday rally is something everyone expects and is depicted in VIX. Even some perma-bears see 1300....these are signs that make me believe that the next weeks will be ugly. I hope I'm wrong and the market rises above 1260 in an impulsive way.

No comments:

Post a Comment