Apr 20, 2011

S&P 500 The bulls are back

          As you may see the price refuses to decline more than 50% of the entire bulish move (3/16/11 - 4/6/11).  The daily closing price was also higher than the resistance 1293.41, which undoubtedly gives us clear buy signal. Safe place for SL is 1298. Most likely he price will continue up next few weeks. 1375 looks like an imminent target. As time is more difficult to determine, but around these periods med term top could occur (May 3-10) or (May 21-28).
Good luck trading!

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Apr 15, 2011

DAX - Elliott Wave Update

Last European more significant bear correction srarted 07/2007 and botomed at 03/2009. It unfolded in three waves A,B,C, and declined 56.11%. The B wave was nearly 161.8% of the A wave. Then the long term bull market probably resumed. The price paints fifths so far. When reached the B wave resistance, the price made very sharp counter reaction, and prodused reversal monthly (03\2001) candle (hammer).

The A,B,C pullback hit 61.8% Fibonacci level of the entire 1 st wave.

Good luck trading!

Apr 11, 2011

GOLD Elliott Wave Update

       There are few very likely targets for the next few weeks visible above. On the one hand the upwards proceeding resistance diagonal at 1505 and the next resistance at 1515 in April. Considering the weekly setup, I clearly can see that the main target at 1576 is coming into play.
       So, we’ll have to buy more gold in case of any significant  correction( buy the dip). 
The 1576 will be reached - maybe in 2012!

Good luck trading!

Apr 7, 2011


    One month later the daily picture doesn't change much. According to my Elliott Wave count we must be in 5th Minor of (1)st Intermediate of 3th Primary. 
    The price still moves in track and longer term bulls control the ball. Since early July 2010 the market has been following this bullish setup. We should see rising prices at least few more weeks. My expectations for Intermediate top are in the range between 1375 - 1393. Will the saying "Sell in May and go away" will stay valid this year....
     In four hour chart I have included my Gann Angle Calculator, which is made in excel. It helps me to determine the support and resistance levels in advance as degrees, percent and price points.
Good Luck trading!!!