DAX- Elliott Wave Update

After clear five waves and 38.2% Fibo pull back against the five, usually I jump into the market. I did it yesterday being long again, chasing potential "C" or "3". 

I expect hitting the possible target (around 6215) in 11th of June 2010 due to my time calculations, based on the  Gann Theory.

DAX - Brief Elliott wave update

           To be honest, I didn't expect such a fast and sharp acceleration of yesterday's price movement. And that "corrective"  bounce up is on really serious doubt. I expect test at 5905 support and then up to 6031 resistance, where my first target is.

DAX - Possible lateral track next weeks in wide range

DAX's reaction last week was very calm comparing it to the rest of the world indexes. DAX is one of the EU indexes which can give a clue for market direction before the others. As you noticed NASDAQ100 refuses to decline as well, and bravely defends its low since 5/6/2010. That also should be a clue for the US indexes.
     I came up with a completed flat correction, where the situation offers clear day trading buy entry.

Good luck!

P.S. Today is the monthly full moon cycle. That usually makes the bulls more aggressive!

SP 500-Today is the day

           Today is the 21st trading day of the down swing and I still bet on my bullish scenario and expect important low today. As I see DJIA and NASDAQ100 don't give a support to SPX, which is divergence for me as well. At 1047 the 5th of potential "C" will be equal to 1st by length and it is favored point for reversal.

My expectations on daily chart look promise possible huge lateral track for the next few weeks.Of course the day trading will be preferred. 

Sp 500 - Are you ready to cover your shorts, just in case?

         At the beginning of the week the markets recaptured a little bit, but since Thursday they are on their way to test the 05/06/2010 lows. Further I assume that those lows are extremely significant and they should resist. Correspondingly I am quite adjusted bullish, but I know that a test of those lows is necessary to confirm the long term upward trend(potential C wave of a zig-zag, and of course new highs). 

Today a perfect low would be at 1090, when a daily price and time magnet will coincide, completing a zig-zag as 2^nd wave.