Last week´s powerful rally has established a most likely bottom at the June 16 low = 1258.07 after SPX had 2 successful ( for the bulls) tests at the 200 dsma. This unexpected explosion higher has moved s/t momentum and breadth indicators into extreme overbought readings (McClellan oscillator) while longer term ones like the Summation […]

Following the “idea” that major equty indeces are tracing a Triple ZZ off the Novemeber 2009 low the corrective price action since the last March low could be shaping an Ending Diagonal If the Ending Diagonal plays out it could establish the top of a large Triple ZZ = Wave (B) from the Novemebr 2009 low […]

DAX could be unfolding an Ending Diagoanal wave (C) of (Z). If the Ending Diagonal plays plays out it should establish the top of  a potential Triple ZZ from the November 2008 low

Scenario 1:  Double ZigZag wave (B) It needs an impulsive wave (C) down Scenario 2: Ending Diagonal wave (C)  The line in the sand between the 2 options is if price gains traction above 2903  and of course if SPX has established a bottom.