Monday, February 7, 2011

2/7 pre-open

Stock futures completed wave iii last night.  Optimal re-entry is on the 30-minute M/A (blue line).  This should occur later today, giving this wave iv time to evolve.
The dollar index abc'd to a nominal new high.  I am waiting for a decline in dollar, advance in Euro to re-enter short Euro.  I want to see 135.97.
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1 comment:

  1. pimaCanyonFebruary 7, 2011 at 6:54 AM

    looks to me like the 5th wave up (from the 77 low) of DX is extending. If that's the count, then it should be in wave 3 of 5 right now.

    Euro is the same but in the opposite direction.

    Another possible count is that 5 waves up completed already, and the move up from the low over the weekend is the start of a new series of 5 waves (so it would be in 1 of 5).

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