EUR/USD – February 23, 2011 – weekly candles. Here’s my revised long term count for the Euro . .
Here is my slightly revised longer term count for the Euro. The key to this new count is the re-labeling of the upward price action from June 5, 2010 through October 30, 2010 as a five wave impulse, and therefore re-labeling it as minor wave A (blue). This new count therefore calls for current price action to continue up in […]
$SPX – February 13, 2011 – monthly candles. Middle of Cycle wave 3 of Supercycle wave 5 up . . .
There are constant rumblings from many of the trading blogs regarding the underlying internal weakness accompanying the incessant rise of the US stock market since March of 2009, and especially since July 2010. The explanation for this may may be as simple as one of the Elliott Wave guidelines of wave personality: fifth waves are by nature, weaker in breadth than third waves. The above chart is […]
EUR/USD – February 5, 2011 – weekly candles. Here’s my preferred “big picture” count on the Euro: Leading Diagonal . .
This is my preferred longer term count for the Euro: a bearish leading diagonal for Primary (burgandy) wave 1. Each wave of the diagonal appears to be a zigzas, so, inside intermediate (black) wave 5 down, I believe we’ve seen Minor (blue) waves A and B complete. All thats left is five Minute (pink) waves down for Minor wave C (blue), eventually reaching the […]
