S&P 500 ~ Intraday Update 1 ~ 18 July 2011

The SPX is still trading between ~1308 and ~1315:

If we break lower the next target is 1300ish and if higher we could see a rally to 1330ish.

S&P 500 ~ Intraday Update 1 ~ 15 July 2011

As said yesterday, as long as the ~1315 resistance holds we might still see 1295-1300:

S&P 500 ~ Intraday Update 1 ~ 14 July 2011

The SPX just bounced off of the gap area at 1307. I hope you could make some money : )

Short-term resistance is now at 1315. If we stay below it we might still see ~1295-1300 within the next few days.

S&P 500 ~ Elliott Wave Count ~ 13 July 2011

With Ben's help the market tried to bounce twice (yesterday and today) but both times the rally was short-lived:

Next downside targets are the gap at 1307 and then the major target around the 1295-1300 level.

I added an alternative count (big triangle since Feb 11) but actually there isn't really any difference between the two counts. The preferred target for wave 2/E is 1300ish. After that we should see a rally to new highs. 1260 must hold else we could quickly sell off to 1220-30.

USD/CHF ~ Update ~ 13 July 2011

Just like the EUR/CHF the USD/CHF knows only one direction: down.

I wouldn't be surprised to see 0.80 within a few days...

Resistances are at 0.83 and 0.855. As long as we stay below these levels the medium-term trend is down.