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Wednesday, July 15, 2009

Continuing Analysis

This post will be updated throughout the day. Beginning with the oldest entries first.

I have these screens side by side today. We are at a critical junction, and I'm analyzing the markets minute to minute. I see a triangle forming in the SPX. Bear in mind we are looking at microwaves but if the Euro enters the Kumo on the M5 chart I believe we will see the market begin to make a definitive turn.

Ok it is several minutes later. I think this is the peak. We had an exciting extension and an overthrow, so it's time to go down.
Wow I hope it's over. We hit the top of the Euro triangle. I'm now looking for a drop into and below the Kumo on this M5 chart. My expectation is that the next few days will drop the Euro to about 1.3900 by midweek. Then the bears will finally be able to join the Bulls again for the advance to the top of P2..

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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