Friday, October 2, 2009

Hello P3 : )

DAX: What a nice week for the DAX! I actually expected the DAX to reach 5800 to form a really nice Ending Diagonal. It didn't happen and the last upwave ([v]) ended in a truncation. Nevermind. We've got our break below the uptrending line of the Ending Diagonal making it very likely that Primary 2 or B has ended. The very last bullish count I can see now is a possible but very very rare Expanding Ending Diagonal. But to be honest, I don't like it and won't bet anything on it... I clearly prefer the downside now.

The DAX should decline 100-200 points more on Monday/Tuesday to complete the first wave down. After that, we should see some sort of rebound, where we will get a great opportunity to load up on shorts ; )

Primary Count: in [iii] of 1 of (1) of [C]/[3]
(((Alternative Count: in [iv] of C of (Y) of [B]/[2])))

That's all for now, more tomorrow ; )