SP 500

I still favor higher prices into late July or early August. The recent decline went much further then I expected and setup the perfect long entry. One more bearish"zig-zag", and testing the previous Thursday low is  possible as well.

I tried to  apply the Fibonacci model on the daily SP 500 chart, and got some results.

 

I still got bullish bias about SP500 until the price action prove the opposite.

  You know .......that's life , that's what all the people say

                                    You're "buying" high in April, "short" down in May
                                    But I know I'm gonna change that tune
                                    When I'm back on top, back on top in June............................
Enjoy the weekend.

Sugar

         Probably the sugar is rolling over for upward correction. Since February 2010 top the commodity has dropped down in five completely clear waves. And they look completed for now.
         We need to see breaking the main resistance at 17.74 in five waves to have buy signal, of course after brief  test the support/resistance at 15.50.  Be prepared.

It looks like P3, it smells like P3, is it really P3, or just significant low only?

DAX-Elliott wave update

       Well, the picture doesn't seem as bearish as all the bears wish (short term I am bear too).
The chart below shows my primary count, which was relabeled a little. I am just trying to fit the labels to one incomplete (to me) pattern. At other hand on daily time frame the market tries to produce reversal candle from todays low (6023). One more reason, which makes me feel little confused is the full moon cycle. According to the moon calendar today 28/4/10  is the full moon. According to my 14 months research about the connection between the moon and the stock market reminds me that todays moon influence could kick off the  market (indexes) higher. That is a fact every time, when the full moon occurs .The chart's look confuses even me. Next time I promise neater charts looking.

DAX - Elliott wave update

  DAX didn't get support in last few days heights.STOXX50, AEX, FTSE100 etc. denied to follow their European brother. That usually means trend change or correction in the current time frame. According to the wave count (5)th wave is not complete yet. Most acceptable price level for reverse looks around 6480 level.