Thursday, 8 March 2012

4th wave correction in S&P unfolding.....

Today and tomorrow will be important sessions to decide whether we are still in a correction or the uptrend is resuming. My most probable scenario is that we are correcting the upward movement from late December. The chart shows the most simple form the correction could take towards 1320-1300 area. I like keeping it simple, but with the PSI+ announcements tonight in Greece, the fear of debt crisis in europe will influence USA markets and currencies. The form could become more complex but I would rather talk about my most probable scenario than all possible ones.

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