CURRENT CHARTS


Click HERE to view current charts

Thursday, October 14, 2010

Thursday 10/14/10 wrap up

Haven't had time to do an Elliott count this week, but there is a lot of wave overlap in the ES which raises some questions about the nature of the rally since the late August lows.  The questions could be answered with an explosive rally.  Barring that, it's possible that we're in the C leg of an A-B-C up from those August lows rather than a 3rd wave of a 5 wave structure.  I'll try to chart that alternative when time permits. 
ES is flirting with another sell signal on the hourly chart with the Dynamic Oscillator dipping below 80 today, but it did turn back up with the end of day rally and prices remain above the uptrend line.  The daily chart is still solid up.

The EUR resolved it's situation with the new highs of today.  The uptrend line and Dyn Osc reset as a result of those highs and the EUR is now back in solid up mode on the daily chart.

blog comments powered by Disqus