Posted by ucbarryk on 19th of Nov 2009 at 08:49 am
Bloomberg offers up at times some pertinent info...esp early in
the a.m...so this seems like an un-equivacal statement..no
quarantees ..i ll be dissappointed should this statement fail to
play out...good trading...bloomberg now offering insights into the
markets..made a statement this a.m. EURJPY is unwinding of
the carry trade..
It’s also possible to count Monday’s highs—1112.25
in the E-mini, 1113.68 in the S&P cash and 10,438.20 in
the DJIA (yesterday)— as marking the end of the
five-wave rise from November 12. This interpretation will
be confirmed if each index breaks their recent
swing lows; 1100 in the E-mini, 1102.18 in the S&P cash and
10,360 in the DJIA. In the case of the S&P
indexes, a break of these cited levels would eliminate the
triangle
formation shown on our charts, thereby indicating
that wave v was already in place. As for the DJIA, a break
of its level (10,360) would eliminate its fourth
wave flat. Since wave four is already “large” relative to the
corresponding second wave, a break would all but
eliminate any remaining bullish potential and indicate that
prices were heading lower immediately, without pushing higher
one last time.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
CNBC is like watching the Disney channel...
Posted by ucbarryk on 19th of Nov 2009 at 08:49 am
Bloomberg offers up at times some pertinent info...esp early in the a.m...so this seems like an un-equivacal statement..no quarantees ..i ll be dissappointed should this statement fail to play out...good trading...bloomberg now offering insights into the markets..made a statement this a.m. EURJPY is unwinding of the carry trade..
It’s also possible to count Monday’s highs—1112.25 in the E-mini, 1113.68 in the S&P cash and 10,438.20 in
the DJIA (yesterday)— as marking the end of the five-wave rise from November 12. This interpretation will
be confirmed if each index breaks their recent swing lows; 1100 in the E-mini, 1102.18 in the S&P cash and
10,360 in the DJIA. In the case of the S&P indexes, a break of these cited levels would eliminate the triangle
formation shown on our charts, thereby indicating that wave v was already in place. As for the DJIA, a break
of its level (10,360) would eliminate its fourth wave flat. Since wave four is already “large” relative to the
corresponding second wave, a break would all but eliminate any remaining bullish potential and indicate that
prices were heading lower immediately, without pushing higher one last time.