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.

AUD/CHF - Forex

Short opportunity. The pair seems to be ready for at least one more leg down. 

Gold - Elliott Wave Update - Shine Time Part II

         The Gold pulled over few more points after first target (1208) I projected in Apr/20/2010. After short break the price went to uncharted territory and marked new high. Reaching all time highs, the price action didn't show any violent counter reaction. All the setups show that gold has not reached its overriding targets yet. The daily setup puts out the important mark of 1205-1207 where gold should fall onto maximally this week, and will set up a new buy entry.

The 1205-1207 support zone seems to be very strong. That's why I think gold is on its way to another rise. Next closer target is around 1275-1280. 

 

As we see the price was stopped by the main 1*1 Gann Angle again. Next (final) test, and reaching the final 1320 target probably will be in June- little earlier than I expected in my last posts, due to the acceleration. Be prepared to buy any dip. Good luck!