Wednesday, February 29, 2012

AUDUSD impulsive decline on 1 minute charts

This displays a five wave decline in the AUDUSD, which has a very high correlation to the S&P 500. I believe that this is the very forefront of a much larger move lower in virtually every asset over the coming months. The most notable exceptions will likely be the US dollar and treasuries in a flight to liquidity.

Tuesday, February 28, 2012

NZDUSD potentially topping?

The NZDUSD may be forming an ending diagonal which has created new highs and also touched a key resistance line for this Wave 2 Red higher. In addition, Wave 5 Blue is 127.3% the length of Wave 1 Blue although not shown.

Decade long S&P 500 channel resistance looming at 1382

It appears that the S&P 500 may see a major top very soon upon reaching the secondary resistance of this decade long channel. This secondary  resistance previously acted as the tops of both shoulders from the 2007 Head and Shoulder's topping pattern.