Friday, 2 March 2012

No sign of a correction....yet

 Both DAX and S&P continue to rise with small pauses on the way up. S&P makes new highs, holding all supports during the rise and with small corrections that trap bears. Could this be a trap rise...I don't care as long as I'm in and I use trailing stops. 

Both indices will sometime turn around in an ugly manner because their rally is huge. 1350 in spx and 6800 in DAX are short term supports. I would only go long at a pullback and near those supports. Never on an up day. 

EURUSD was harshly rejected from 1.35. Since the pair can't hold 1.33 short term momentum is downwards unless that level is recaptured. Support at 1.3240-20 and resistance at 1.3350. Important support area of 1.30.


  1. It would be nice if you could use some wave labels.

  2. thanks for your remark.Will do next time I update.Please feel free to comment in anything you like or dont like...