STOXX 50- Elliott wave update

 STOXX50 index has formed very clear and reliable 5 wave impulsive pattern like  DAX. But the corrective waves structure little differs. According to the wave count. is expected (2) or (B) wave progression to at least 2.767=38.2% Fibonacci, or nearly 2.872= 61.8% Fibonacci level retracement. The situation gives us great opportunity  to take short position, chasing wave (3) or (c) ,and has reliability over 90%.  

DAX-Elliott wave update

                                                              Happy Valentine's Day !!!
Almost nothing changed since my last post about DAX. I still expect (2) or (B) wave progression to at least 5.655=38.2% Fibo, or 5.821=61.8%  Fibo. I missed 50.0% Fibo, because that level matches  resistance peak at 5.738. If the price action break that resistance, possibly the price will run after at least 61.8%Fibonacci.
Most probable reversal levels-5.666 and 5.796.

Enjoy the weekend

                                     On Monday "Anything can happen "

DAX-Elliott wave update

Since my last post about DAX  I've changed the wave count a little, but the pattern hasn't changed, just a bit extended. As you see my expectations are for corrective (2) or (B) wave, which is on the half way according to this count.
 Usually I can't afford to suggest and trade corrections, but in this case (bigger time frame) I did it anyway. And ready to cover in emergency around 38.2% Fibo. My trade and picture about  STOXX50 is similar. I don't suggest to get in now, because it's little bit late for long trades now, I mean more risky. Better wait for the bearish train. It promises better short target.  

In daily time frame the tape hasn't change a lot. That is what i do expect. I will make a daily update when the price is closer to the red battle field.  

 Pu/call ratio is up as well, confirming my short term idea.

DJIA -update- bullish signs

                  
                        The downside move begun in 01/19/2010 looks like an ordinary "zig-zag" (A)(B)(C) about now. That count suggests sideways next few weeks (months) or higher top. Sounds Heretical, I know. Despite that I left it as my primary version. Next count (alternative) shows that (1) wave finished, and wave (2) resumes as an any complex correction.

                             There is one more count, which is possible too, and widely preferred in EW Blog sphere. It suggests waves (1), (2) and I  completed, and wave II is almost done.  If it is correct, will be proved next few days or week. I left it as count version as well, but I don't trust it much.

Add on.

Lot of calls lately.

 Good luck!