EURUSD update March 5, 2009 1hr chart

Here is my take. Now remember that B waves are crazy waves, they can go whereever they want to, even a new low, as long as the correction is in 3 waves. My experience the 78.6% fibo usually holds well and it rarely drops below the start of wave A, but this is no guarantee that it will be so in this case. Caution is advised.

Dow Jones, will history repeat?

I made a comparisment between the DJ of today to the DJ of '29 - '34.

If history repeats, we are in for a long and deep depression.

Corrections happen in 3 waves A, B and C. We are about to complete a wave A.

Wave B retraced 50% in '30, that would put us at about 10000 today. Then a deep wave C came and a same correction would put us at 3500. Twice as low as we are today. Recovery won't be until 2012.

Hopefully it won't happen...

eur/usd update march 4, 2009

After evaluating the 3 scenario's the impulse is the only scenario left.

GBP/USD updare March 3, 2009

Update on the cable. Still some room downward.

EUR/USD update March 03, 2009

It will be interesting to see if 2509 holds. If it goes through, we are very bearish.

EUR/JPY 4h update 03-01-09 4h

Chart for the EURJPY.

GBP/USD update 03-01-2009 4h chart

Here is an update on the cable.

It looks like the 61.8% fibonacci support at 4067 is holding well sofar, however there is still potential on the downside possibly as far as 3800. The upside is there is C is a flat C which would complete wave B.

Once B is completed there is a potential for 1.6000.

EUR/USD Elliott Wave Update 02-28-09 30m chart

Here is a bigger picture update. I like this probability.

Looks like we need to close the long we entered and wait for an enty near the bottom of the channel.

Update EUR/JPY Feb 27, 2009

You have got to love this game...

After I entered long on eurusd it went up 100 pips and down another 100 pips. However, the stop is not out so we are still in and yes, up 30 pips now.

Here is a look at the EUR/JPY notice the alternate count. However given the MACD I prefer the current count as the MACD shows lots of room on the downside still.

Update Dow Jones Feb 27, 09

Here is my update on the Dow Jones. As I said last week, it will go lower. 7000 was the target and the market has gapped towards that level.
Will be interesting to see if 7000 holds, the 1.618 extension of wave 1 has already been passed. If it holds it will be wave 5 of 3, then a retrace will follow, followed by another run down.