EUROPEAN MARKET

Just wanted to share with you my observations about few EU indexes.

AEX - Elliott Wave Update

The European (Dutch) market looks bullish as well as the US one. As early as this week we'll see how strong the new rally really is. Friday performance already showed us that it doesn't seem to be the optimum. It retraced normally (healthy) at 61.8% Fibo, and as you see we are up again.

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I've got to say that I'm not quite sure about the emerging pattern on daily base, but sure there is more room for the price to go up.

                                                                                                                     Some Dutch history

Image via Wikipedia

Good luck!

EWI- Free week announcement

Image via Wikipedia

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Some fundamental news in past tense :-) Oil edges above $77 on Europe, China optimism

SPX 500 Elliott Wave update

 Definitely  the short term picture looks bullish, even with the weak attempt to break the channel line. Anyway, this week is going to be interesting because we've got an impulse five up, which I labeled as "A" without any important resistance overcame. A short "a,b,c" correction is expected, which perhaps will try to test the previous 07/01 low. I think the price will calm down around 1035 before the next attempt to break the upper channel line.

                                                  chart updated 21/07

Good luck trading!

SUGAR- Elliott Wave Update

The sugar bulls seem to be still breathing. The price tested important support and bounced up successfully for new corrective high. Most likely the price will nest at $24.56 area and then will collapse for "C" wave of a "zig-zag". There are few evidence supporting that scenario :

• The price will meet 61.8% of "A" wave.
• There is 161.8% of the corrective (a) wave.
• If we overcame 38.2% will see the right shoulder of  potential H&S pattern completed, and that zone in the bigger ellipse matches with the target roughly. 
• See the circled bar in red.

                                                            Good luck trading!