Friday, 20 April 2012


S&P closed above support and could be forming 1-2s with the 3rd wave on its way. The first sign of this scenario playing out would be to break yesterdays high and then stay above 1390. My view is that this upward move is likely corrective and we will see lower than 1360. I believe the market is biased towards 1340.

AAPL movement below 600 was a negative sign for my as mentioned in twitter. The most bullish scenario for me sees the stock pause near 550-530$ as an A-B-C. It bounced at 38% retracement and it may now go to 50-61,8%. I'm neutral for the time being.

EURUSD still moves sideways. I'm bullish as long as this stays above 1.30. If this level is broken then we could see 1,25.

GBPUSD on the other hand looks more bullish. This is an updated older chart I posted here. I'm bullish as long as it stays above my 55 and 200 MA.

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