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Thursday, February 10, 2011

Thursday 2/10/11 wrap up

Current ES counts:

ES hourly

ES daily

Been getting a good case of whiplash in my EUR trading since the beginning of the month, but when I back out and look at the Elliott count it appears fairly simple.  Don't know what happened to my crystal ball, may need to invest in a de-fogger.

EUR hourly

EUR hourly - zoomed in      - note the almost perfect .618 retrace of Minute W1 (green)

EUR daily

If these counts are correct, the EUR/US$ should accelerate down tomorrow.


  1. Al,

    The Euro whiplash has gotten many of us. After two short attempts I went neutral today. The lack of downward momentum was one reason.

    Thanks again for your postings. I made a favorite icon on my iPhone and named it Al.

  2. ES to 1265 next week? A nice change in pace for the equity. lol What probability do you assign to that outcome?

  3. If you're looking at the red dashed line on the hourly chart, that's not a price projection - just an indication of future direction. I would say the odds of hitting 1265 next week are extremely low.

  4. Reversed positions to short EUR yesterday, finally appear to have a winner. Might add to short EUR's today.

  5. Yeah I'm short again too. Good luck next week!