As a follow up of the post dated July 7, instead of a Double ZZ wave (B) price could be tracing an Ending Diagonal which would complete a ZZ wave (B) The approach to the overall pattern remain the same as I think that price is tracing a corrective pattern that will be followed by […]

Yesterday SPX managed to withstand the panic selling occurred in Europe (it is rumoured that ECB intervened to stop the bleeding)  Price chopped along all session but a late selling pressure which established a new low makes the down leg off last Friday’s hod a 5 – wave move.  So now we know that the […]

For the short term I am looking at a potential impulsive down leg from the April peak that could establish some kind of a bottom. If the count is correct EURCHF is involved in completing  a wave (5). It still needs a wave (iv) rebound folowed by the last wave (V) down

The price structure of the rebound from the February low is corrective. The Elliot wave pattern unfolded by price can be labeled as a Double ZZ a) If the blue count is correct then the pattern is in the final stages of the wave (C) of (Y) b) If the black count is the correct […]