About this blog:

CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026

Thursday, February 24, 2011

Closing AUD/USD Long trade

I'm bearish on equities so it's wrong to be bullish AUD/USD at the same time. Taking some profits. There are some key levels to watch and maybe I'll put longs back on, but I doubt it. Out at 1.01050

Thursday, February 17, 2011

AUD/USD - Buying on Weakness

Here's a daily chart of AUD/USD. I believe it's finishing a 4th wave triangle and I will be buying for longer-term on short-term weakness. I have buy orders in at 1.00100 and .99950 which are the 50 and 61.8% retraces of the last move up on a 15m chart. Good luck!

Sunday, February 13, 2011

Russell 2K Daily - Upside target 845

I was working on my R2K count this morning and came up with an upside target around 845. I will fully unload short positions at that area if the waves are telling me to do so. Looks like we should see some weakness for wave iv of 5 before the final thrust higher in v of 5 of i of 3. I don't expect the pullback to be overwhelmingly strong since we are in a wave 3 up so I'll watch the waves to exit this position. Here's the chart I was working on.

Saturday, February 12, 2011

SP-500 Where are we?

I have us in the final up move of i of 3 up. Looking at the hourly chart I only see 2 options with limited upside in the near term. I think the market will probably top on Thursday, February 17th then make a final low in June before the DJIA and SP-500 go up to challenge the all-time highs. Here is the hourly chart: