INTERESTING battle at 1374.75 in the S&P's - no hourly close below wave count invalidation thus far so the battle rages on...
http://www.aspentrading.com/uploaded...2SPX_60min.png
http://www.aspentrading.com/uploaded...2SPX_60min.png
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DislikedDespite some of the fan-fare in the last week or so about EUR/USD putting in a bottom and particpating in the risk rally to the upside, the underlying price structure simply does not imply higher levels - nor does the wave count we are tracking. Simply too much overlap on the move higher off the April 15th low that fits in well with 'B' wave triangle. A break below trend-line support at 1.3180 area should put the bears back in control.
http://www.aspentrading.com/uploaded...12eur4hour.pngIgnored
DislikedTraders, the count we are favoring in the S&P's is bullish and suggests that the 1380 level hold. Below are 2 charts - one that shows that 'bigger picture' and one that zooms in on the current action.
http://www.aspentrading.com/uploaded...12spTARGET.jpg
http://www.aspentrading.com/uploaded...2ES_180min.png
Bullish equities will have implications in FX - shorts in USD/CAD, USD/SGD and even shorts in EUR/CAD would be ways to play this. -DF-Ignored
DislikedDave,
why don`t you consider that the pattern is finished already beginning of may as "Daneric" did ?
http://danericselliottwaves.blogspot.de/
SixerIgnored