Thursday, May 20, 2010

DAX ~ Elliott Wave Count 20 May 2010

I recieved some charts on the DAX from AussieKen I'd like to post here:

If the DAX declines below the potential wave a low we could also count a LD as he labeled it in this SPX chart:

A few minutes ago the SPX was down 40 handles, currently down about 30 handles. Still don't see a proper third wave down!... may be we get it tomorrow? Stop for the bearish count is 1120, a rally above this level would be quite bullish imo.

The EUR/USD just broke out of an inverse H&S with a target of about 1.275.

Edit: 2.15 PM EDT: Do you see that potential inverse H&S forming? If this worked out we could close almost green today...