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!

STOXX 50- Elliott wave update

The structure reliability for downside impulse is very high. As you see I've labeled the move since 1/11/2010 as wave (1) (preferred count). Of course there is alternative count, which suggests the current correction as wave II of (3) to be underway, back testing the red neckline and down again.

The bigger time frame(daily) suggests couple of scenarios as well. My preferred count suggests P2 END and P3 underway. However, my expectations are for at least one more move lower. The ALT one(A)(B)(C) and new high is possible too. My doubt it based on the bigger H&S pattern since 09/03/2010, whose target is not met yet.

So, I suggest tiny  long and stop at 2,593. Exit- around 2,820.The target is good. If I am wrong, the loss will be tiny.

Good luck!

Update 2:00(GMT+2)

Individual investor's choice for next few months. Information from last week.

Sentiment Survey Results1/27 to 2/3

Bullish	29.2% down 5.8
Neutral	27.7% down 0.6
Bearish	43.1% up 6.4

Update DJIA -daily-candlesticks 12;00pm(GMT+2)

Just sharing an idea.

  

STOXX 50

      The market loves to make most of us look stupid often. All what we do- chasing the market,  is something like adoring a girl. Don't you think?  We try to follow  every market move like the girl of our life. And often we got hurt by that girl, trying to pay her all of our attention and love.(sorry girls, some man point of view )
I think flirting with the market only, is the best way for success. Some people have the flirting as a gift. There is only one rule  for them- doing for fun, and no matter what's the exit.(leg over or nothing)
 Friend of mine (Ivo Gruev) wrote a book named " The Bourse- Flirt or War"  It is written there about the people, who would have the courage  and patience  to make two things: to overcome their own ego and get friends with the stock market. But it's published in my native language only.
         However let's do some work, " flattering our love".



I don't know am I wright, but I saw a possibility in European indexes. Last two hours I was "in private" with STOXX50, and a small lamp blinked over my head. By the way, in one hour bars most of the European indexes look oversold according to RSI.In  that time frame the longer lasting clues and signals are not so reliable, so I am not so sure.
                                                    There is something suspicious about that wave (2) has began from that level. Nasdaq100 didn't even touched Fibo38.2% before today's leg down.Usually it makes very deep corrections.
                                              Have a look at this chart:

                               See you tomorrow, better take a nap.
Good luck!