Just a short count update to what I posted yesterday. Although both the DAX and the RUT put in impressive declines and recoveries today, the decline does not look complete in Fibonacci or time symmetry terms.
DAX: a speculative projected path is shown. Still looking for a test of support at 5760, perhaps after an opening bounce tomorrow morning.
DAX: a speculative projected path is shown. Still looking for a test of support at 5760, perhaps after an opening bounce tomorrow morning.
DAX 10 MIN
RUT: the decline put in today reversed at exactly the .236 fib line of the recent advance. This is usually not a significant fib level, and the duration of the correction still seems too short to call a completed [b] wave yet. Looking for a test of support near 719 and the .382 retrace before [b] is over.
RUT 10 MIN
RUT 1 MIN
EUR/USD: I generally do NOT EW count currencies, but sometimes it can be useful on shorter time frames just to illustrate expectations. What I am imagining for this pair is a possible running converging triangle that completes in the European morning, leading to a subsequent swift thrust down to test the .786 retrace near 1.3283. That could give us the (c) wave I am looking for to complete [b] of Z in equities.
EUR/USD 1 HOUR
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