2011-08-13 - sp500 - waiting for new low?

Sp500 stopped falling down. Let's look at the chart (daily) to see actual situation:

Last drops I labeled as 3rd wave, rises of index value is 4th wave. After finishing 4th wave we sholud look forward to see 5th wave with the new bottom.

2011-08-01 - eurusd - deeper 4th wave

Corrective wave 4 isn't done and dolar gained value as a result of the deal between Democrats and Republicans:

At the moment it's dificult to judge if the wave c is over, however we it could be possible. After finishing 4th wave, I'm expecting to see 5th wave ending at the level of 1.4624.

2011-07-30 - sp500 - it's not the end of the correction?

We can see strange situation on daily s&p 500 chart:

5th wave height didn't brake the 3th height. this situation can take place in impulse, however I'm aware of the fact that correction is not done, and s&p 500 is going downwards to the new minimum.

2011-07-29 - eurusd - last growths before bigger correction?

On hourly chart we can see end of wave 4 and beginning of wave 5:

On the other hand waves i and ii can be just correction in wave 4, so we have to wait till wave ii is done. If the bottom of wave ii is lower then wave c, we are still in wave 4.

2011-07-28 - eurusd - the end of 4th wave?

Eurusd has been in correction since yesterday - pair has lost more then 50% 3rd wave value. We can see it on H4 chart:

4th wave came into the are of wave 2, this is possible on markets with lever.

2011-07-24 - gbpusd - rally in several months?

Let's look at weekly chart to see wide perspective of gbpusd:

We can see that index is in rally - actually in wave {3} which consists of waves [1],[2],[3],[4] and [5]. Wave [4] ended in the middle of July, and now gbpusd is in [5] wave. Daily chart shows this occurrence:

2011-07-23 - sp500 - end of the rally is close

Sp500 index is in 5th wave of rally. It has ended 4th wave on monday:

2011-07-21 - eurusd - uptrend or downtrend?

Eurusd may be in it's turning point. After gaining value the currency may drop. Let's look at the H4 chart:

We can see three waves of impulse (in uptrend). However this impulse could be also a correction. In this situation we sholud expect drops below 1,3835 level. The weekness of this theory is the down move from the beginning of July - it has three waves, not five.

In the end, I'm expecting some drops in corrective 4th wave and rally in 5th wave.

2011-07-15 - sp500 - correction in uptrend

It looks like sp500 ended correction ABC in the middle of June. At the moment index is in uptrend. We can see it on the daily chart:

After finishing 4th wave index will go towards new high (over high of 3rd wave, but could be less then wave B high).

2011-06-25 - s&p500 - end of drops?

Last week index ended 3rd wave and moved to 4th wave (possibly it's fully formed). After finishing little rally in 4th wave, I'm expecting some drops in 5th wave:

5th wave will end wave C of ABC correction and index should continue to gain walue.

2011-06-18 - s&p500 - gaining value in short term?

After five waves impuls s&p 500 index is in ABC corection. It started in February and lasts till today. We had waves A nad B fully formatted and now index is in wave C:

2011-06-17 - eurusd - contiunation of drops?

In last entry I've mentioned ending od wave (B) in correction on eurusd. Indeed, wave (B) is over, however it lasted longer. At the moment pair is in wave (C) and it's losing value. We can see it at daily chart:

Let's look at wave (C) at H4 chart:

2011-05-31 - eurusd - little drop in short term?

This is the first post on this blog, so at the beginning I would like to present it to you. I will post my analyses, generally using elliot waves tool, about forex market and s&p 500 index.

Today I will analyze pair eurusd. 

Let's look at the D1 chart: