Wednesday, 14 March 2012

Strong S&P and DAX, consolidating Greek shares.

S&P made new highs yesterday. The bullish scenario overcame all negative possibilities. It is important that this index will stay above the mid-pitchfork (1370). 4th wave low at the area of 1340 is also very important for Medium term trend to continue to be up. This rise from 1340 might be the entire 5th wave or even better the 1st wave of the 5th. Targets for the end of the 5th wave start to appear from 1410 to 1560.  Wave relationships offer a variety of targets. Wave 3 is 161,8%  of wave 1. The next few days will shows us if we will see an expanded 5th or it will soon be over. Stops on longs I would favor 1340. Exiting longs at these levels would also be wise in my opinion.

 DAX moves towards our 1st potential of 7100. The upward channel is at 7200 and rising. The same stands for DAX as for S&P. The 5th wave might be over or we might see an extension.  6600 is very important as 1340 in S&P. Longs should put a stop there or exit now (7070). since all parameters are met for a 5th wave to have ended.

Greek banking index still looks like it is in correction. There is no evidence of a clear 5 wave upward movement. Prices are stalling near 50%  and 61,8% retracement. I prefer waiting for something impulsive than bottom picking. It may first see lower levels from recent lows before moving towards February highs. For more info and detailed analysis don't hesitate to contact me. Any comment is welcomed.


  1. Thanks to your post on Monday I bought DAX futures and sold them today. Nice profit. Thanks....keep up the good work.

  2. There has been no way to manage trades using Elliott waves until i got here, now beginning to understand. Thanks

    new RPT reader

  3. I'm glad I've helped. I would appreciate your joining the blog and becoming a follower. All constructive comments are welcomed.