SP 500

 Short term is expected 25-30 points pullback.
The night session registered new year short term top at 1236,97 and probably marks 1st minor of (5)th Intermadiate. This Elliott wave count appears on one very short term only. The five wave structure looks completed and wave 2 minor is underway.

Medium term - the bulls control the situation and there is more room upwards for the price to go. After brief few days pullback the Santa rally will resume. The next price magnet and important Gann angle influence  apears to be 1279 in the second half of January 2011, where the (5) intermediate will be completed.

Good luck trading!

DAX

Yesterdays session marked the pick of "i" of 5th wave. The expected pullback won't be deeper than 6760 probably.

Good luck trading!

SPX 500

I've got a reason to consider wave A minor  of a potential triangle completed.

 1 173 became strong support. Once broken the price will meet next support  at 1 154.

SP 500

     Hey Wavers, It's been difficult lately...., I know...Between the Flash Crash and believing in the real evidence-long term.
    I was lucky and happy to nail the 2007-2009 slide. It will be a good story for my grand children.
 I know ....we know ...it was very  fast and profitable.
What is the essentials of the EWP?...1-2-3-4-5..... a-b-c? THEN 1-2-3-4-5.... and a-b-c again.
 Do you know that SP500 has retraced more than 50% since the top in 2007 till March 2009.
 ....Probably This is the old  Bull Market.


Nowadays ...


  It  will be very difficult  for the bears to continue the pullback, and reach 1172  again after todays ignition.  
  Breaking 1195 downside was a good  sign, that I was wrong about my latest count. Wave four Minor is the better suggestion for the current scenario. It hasn't retraced 38.2% but it can be valid as well.   I like the triangle idea, but it needs little more time to unfold.

SPX - Cash Index

        More than 2 months the bulls control the ball, slightly tired, but still in the game. Yesterday's pullback produced green bullish candlestick with not so high reliability. 
Probably 4 minor wave is forming now. Minor 4th wave is particular wave pattern, and needs it's time. We got only 3 days after toping 3th minor. That's why the correction doesn't look finished yet. I have to relabel in case the price bounce up for new high today or tomorrow.
Possible test level- 1195
Target- 1237

Good luck!