Dollar at resistance with more above it.Possibly time to put in a right shoulder which matches what I am seeing on the SPX.
EUR/USD -Green upper diagonal resistance is off the top in '08.
Different look -
Two counts -
10m SMA chart - This is a new one I put together a week or so ago. Interested to see it's predictive capabilities. Looks pretty bullish still. That can change in an instant though.
Minis still channeling - 1203 area is important for the bears. SPX has a long way to go to crack this same channel. Green diagonals are what's left of the wedge off od 1040 lows. Busted support being backtested here at 1200 is a tough spot for the bulls to get back thru (with channel resistance as well). If I were (I am) a bear this would be a great spot to add to shorts. If I were a bull (I am because of POMO) this would be a spot to watch closely for a breakout or breakdown.
Better get it this week, cause next week the holiday slowdown begins.
Counts are either were up here in a 4 or 4 of 3 then down or we have completed an ABC corrective and it is time to take off. See last chart in last post.
Back after big blog.
