EUROSTOXX50.I- Elliott wave count

      
       One of my favorite European indexes is on the way to paint five waves downside as well.  Not much time for text, while I am at my day job.

I prepared two counts:

Alt. count.

Preferred count.

                                                       Long term expectations.

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.