DJIA - Elliott Wave update

                    So far this week’s price action has been up mostly, one day down. For instance 2/25/10 low 10 186 held about now. The question, that remains is very simple:
                   Is this a developing five waves to the upside, or just a simple A,B,C correction into March 1st, which will be followed to a slight new low for next two weeks? The key will be 10 438 resistance level as well as the 10 186 support, which is the “must” hold level for the bulls –short term. So far we have 3 developed waves, which look completed. But would look much cleaner with a slight new high into the resistance I noted.

The downside move begun in 01/19/2010 looks like an ordinary "zig-zag" (A)(B)(C). This count suggests sideways next few weeks (months) or higher top. Sounds Heretical, I know. Despite that I left it as my primary version.

I would like to remind you something, I wrote in previous post  Dec 20 2009, where I mentioned, that classical pattern's target is not met yet. Just keep it in mind. I hope next week's  price action will make us more clear about the market's intentions. 

I keep watching the  Sentiment Survey Results as of 2/24/2010, where I do not see any extreme levels.

Bullish	34.9%
Neutral	35.6%
Bearish	29.5%

PS.   For last two years I keep on eye every full moon cycle. I've noticed that every month the   stock market is UP for at least 2-3 days, covering  the full moon cycle- correcting or impulsing.  It happens every month.  

XAG/USD -Elliott wave count

The immediate pressure remains on the downside and we expect further decline twd 15.00. 5 wave impulsive pattern formed yesterday. I doubt a little the corrective move has finished already. However, a classical pattern has formed also ( head & shoulders), which propose the same target as the EWT suggests. Good luck!

S&P 500 Very short term

We  have 5 clear impulsive waves dropping down.The corrective move looks almost done. The signal for one more move down is very reliable.

Good luck!

FTSE100 - Elliott Wave update

As I expected, the corrective move bounced up to the Fibonacci levels (61.8%). With last week's expected pullback, the immediate pressure has shifted on the downside. Trading with slight downside bias, probable dropping can be expected  next couple of days. The price action already made 5 impulsive waves downside about now. We still don't have strong SELL signals.

Good luck !

EUR/USD

This pair is diverging for weeks, and already painted 5 waves up. The correction reached 38.2% Fibonacci, giving me reason to open long position. If it is ordinary "zig-zag" the target is good as well.