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Friday, July 10, 2009

Morning Update Friday

Since we just overlapped wave 1 and the Euro chose to take the highroad I'm bailing from this count. I'll be back with an update later. It looks like a larger ABC is in the works.

I'm just going to update this post rather than continue to create more. The chart above is the 15 minute Euro. This junction is critical as it could go either way. I expanded the upward pitchfork and created a tenative downward fork. It maybe nothing more than wishful thinking. The next few minutes will tell the story.

The Euro is in an uptrend, so I'm a little concerned, but this is how I'm counting the wave.

Please read my comments for further updates.
I'd like to hear your comments, so please feel free to offer your opinions.

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

1 comment:

  1. The Euro has begun a new downward channel. Currently it is at the top of the M5 Kumo and stochastics are low.

    My expectation is that we correct slightly for about 30 minutes before resuming the decline.

    Co incidentally this happened at the same time the SPX hit the S2 support.

    This should set the SPX back on track to my 868 target for today.


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