The Kumo is shown by the broad light gray and purple lines in the chart below. Strategy Desk does not lend itself well to this type of chart, but I'm very happy to now have it all in one place. Subscribing to two other services, and having to switch back and forth was a pain.
The only thing missing is the future projection of the Kumo. If anyone has already figured that out I'd really appreaciate some help.
With all the overlaps it's down to one of two scenarios. Either we are still in a correction or we are in an extended third wave.
If we break yesterday's lows I'd say extended third wave. If we break the top trend line then we are still bouncing around in a corrective pattern.
Again keep and eye on the Euro. I'm looking for the Euro to take the market lower tomorrow. M15, M30, and M60 charts are all flying just below the clouds. With all that cloud cover I expect it's going to take the SPX down too.
If we extend past my big red lines in the sand, the Tenkan-sen and Kijun-san will be signaling the direction of the market.
One other tool I've become very fond of is Andrews Pitchfork. We are at the top of the pitchfork and M30 Stochastic is coming down. looks like a strong indication.
Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.
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