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.

Friday, February 24, 2012

USDSEK Dual Support Convergence

USDSEK appears set to rally strongly given that it is sitting on significant monthly trendline support. If trendline support does not hold this count is not invalidated unless 6.30 is breached.

Wednesday, February 22, 2012

AUDUSD Detailed look at Wave 4 Red

The AUDUSD appears to be completing a Wave 4 Red. Waves A and C Green are almost at equality. Additionally, Wave 2 Red (shown in prior post) and Wave 4 Red have reached equality. The previous post has more info about where Wave 5 Red and more importantly, the next move, should lead.

Tuesday, February 21, 2012

AUDUSD long opportunity to set up amazing short entry

It seems we may be ready for one last thrust higher in the AUDUSD above the recent 1.084 barrier, but below the all time high of 1.108. This should present an incredible risk reward opportunity to enter into short positions. The resulting impulse should end around a conservative estimate of 2,500 pips lower.

Monday, February 6, 2012

Possible 5 waves lower in S&P 500

I usually don't post my short term wave counts. However if this labeling is correct, we may have already seen the very first leg down of a much larger decline in Wave 3 or Wave C. The point is to remain very cautious until the market provides more clarity.