Monday, 12 March 2012

Europe set to move higher.S&P????

Looking at DAX I see that a 4th wave has ended with a 5th wave potential around 7100. This is my first choice and most probable scenario. The next most probable scenario is similar to the s&p scenario mentioned last week. If the second scenario is running, then DAX should soon break 6600 towards 6400.

S&P touched the mid-pitchfork resistance and tests bearish scenario possibilities. Breaking 1363 spot should be the initial sign that wave C has started towards 1320. But is it possible that DAX goes to new highs and S&P not? The answer is yes but in our strategy we prefer entering short positions in s&p only when certain levels break and keeping long positions in DAX with stops close by.

1 comment:

  1. DAX and S&P move according to plan. 7100 and 1400 feasible targets respectively.