18:45 PST
This may be the start of something big
Closed:
All 60 minute signals except the Ichimoku are bearish. Let the games begin.
I wonder if it was optimism inspired by he Olympic Games that kept this market up.
/ES
12:15 PST
Finally some red!
If the Bears can conquer the 1105/1097 area there will be little support below to contain the decline. I'm ready for this to begin.
Better late than never... Here's the forecast
DDF - Neutral Bias
MoneySpy remains Bullish as does PPS and the Ichimoku.
09:30 PST
If the fork fits, trade it.
It looks like the forks and the Kumo may be signaling a top.
Idiom:
Also, if the cap fits, wear it. If something applies to you, accept it, as in These problems are hard to solve, and most people would need help, so if the shoe fits, wear it! This expression originated as if the cap fits, which alluded to a fool's cap and dates from the early 1700s. Although this version has not died out entirely, shoe today is more common and probably gained currency through the Cinderella fairy tale, in which the prince sought her out by means of the slipper she lost at the ball.
07:15 PST
07:00 PST
Following up from late night. The /ES ED turned out to either be an illusion or I started the count from the wrong place. The Band Squeeze shot the market up, and the EUR/USD followed the Downward Magenta Fork.
Once again the fork started back in July held the line.I changed my previous (w) and (x) label to (a) and (b) after seeing it on Rich's charts. This takes the Bullishness down a notch.
Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.
I just discovered your blog.
ReplyDeleteYour forks are great. Do you think this is the end of the corection? What is DDF?
Thanks I appreciate that. DDF is Clayburn's Directional Day Filter. It has a 75% accuracy when forecasting the bias for the day.
ReplyDeleteI don't know if this is the end of the correction. The 1000 area will be the first hurtle. I think most Elliotticians are scratching their heads and hoping for a turn.
The disappointing thing about Elliott Wave is that if the market continues up there will be a way to count the waves. With its extensive set of rules there is always a way to make Elliott Wave theory right, and the Elliottician wrong. I'm no longer impressed.