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Thursday, February 11, 2010

Thursday

Recap:

DDF missed the mark today. But Persons Pivots called the top.


I've been around and around with the count and there are several ways of notating the EW but each works out with to a little more upside to complete wave (ii). Most likely area is 1085 and possibly 1092 for the peak.


The EUR/USD may turn back here but if not the top tine of the cyan fork may be the target.

Update 8:50 PST
No worries for my Bear friends. We may see 1.36.70 before we see 1.360 but I believe 1.3600 is a given. Draw your forks.



10:45 PST
Due to the internal count of the waves I have relabeled the count. It's very likely that this is the end of the correction.



09:25 PST


08:40 PST



08:00 PST


Today should have Bearish Bias with an expected high of no more than 1075.

The EUR/USD has followed the Bear fork as I described last night.

The Forks are continuing to show a bearish path in both markets.



SPX:

DDF is predicting a neutral to slightly Bearish bias today. DDF support and resistance is 1060.59 to 1069.05

Persons Pivots are indicating support at 1052 and 1060 resistance at 1074.75 and 1081
Woodies Pivots are in agreement with 1060 and 1075

MoneySpy and PPS are bearish on both the Hourly and Daily charts.
The Squeeze Indicator is predicting a volatile or sustained moved.

The Ichimoku's hourly chart shows the Bearish bias as being threatened by a Bullish cross and a weak bottom span on the M60 Kumo but a very strong top span at 1075.00. The Daily chart continues to present a Bearish Bias with strong resistance at 1074.29 from the Flat Tenkan-sen.










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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