Monday, 19 March 2012

Topping indices or another consolidation?

S&P should hold 1390. It is moving still in the same wave from 1340. Either the 1st of the 5th, or the entire 5th is ready to end. However if 1390 holds a subdivision of a 4th wave is happening now and we will probably see higher levels around 1410 for the final thrust.  Favoring longs with stop at 1390 spot. 

The same holds for DAX. The testing of 7100 today is probably a lower degree 4th wave. The move from 6600 is either the 1st of the 5th or the entire 5th wave. 6900 should not be breached for the rise to continue in the short term.

USDJPY looks like it may be finally ending the tremendus rise from 76. It will at least make a correction for the move that started at the area of 80,50. I favor short term short positions with a stop at the area of 83.60.

1 comment:

  1. USDJPY will collapse....SPX and DAX have topped already!!Get ready for a black swan crash soon....