Elliott Wave Update - short term bullish signals

   My advice for the greenhorns, is to stay aside, waiting for higher levels for shorting the market. Because, I expect five waves up for (C) wave of an "expanded flat".

Good luck!

  

Dow ---- WOW !!!

    Wow !!!- DJIA made 568 pts decline  for only 3 sessions, I haven't seen such a long leg down lately, and hasn't finished yet. The waves are so clear --- even suspicious clear. Just have a look at the 10 min chart.There is not much to explain what do I expect --Few more points down, and then few days for any A,B,C to correct the first wave.

Long term I left the door open for one more "zig-zag" and higher high to hit the H&S target, but let the time prove it. It depends on that how low will dip the market price. However, let the bear play it's dance and get some"SHORT" answers.

Elliott wave count on Gold-update

         
            A serious correction towards the $930 level, painting "running flat" could shake out the speculative community while keeping the precious metal in a longer-term uptrend. As I mentioned in my previous update, a strong selling pressure is expected. Short term I see at least "X" corrective wave level area as possible target ($930). If the GOLD decides to paint an "expanded flat" the price might drop to deeper levels, around $650.

DJIA - Elliott Wave update- last call for the bulls

    It was necessary to adjust my count a little these days ( short and long term). Downside decline still remains according to my count. The ending diagonal pattern has extended a little more, than I expected. The current uptrend from the mid-Dec 2009 low is losing momentum. However all attempts on the downside so far find solid support near the 10 232 chart level. Eventually though, breaking this level, will give way to a strong selling pressure to correct the entire rally from the July 2009 low.
   Here my count shows, that one more little bounce up is expected. There is another alternative, that the end of that ED is already in place, and the expected decline is already on the way.

DJIA - Elliott Wave update

        
            The price's slightly climbing is getting weak last few days, forming an ending diagonal according to my count. As long as the prices stay above the 10 265-10 232 key support, the main focus still remains on the upside. However, when testing the 2008 resistance area at 10 827 will see whether  solid top can be found very soon (today or these days).
           On the downside, any move below 10 232, where is the ground of the ED will negate the above bullish view, and the end of (Y) wave is already in place.The current move looks like an overthrow. Breaking the ground ED line, painting 5 waves down, will support my bearish expectations.

Good luck!