Thursday, August 13, 2009

Back to the Drawing Board ?

Post Fed and a few days down the road from various market highs , where are we?

The Euro : 6 days ago it made it's highs and the count detailed in Euro Count Complete. remains current. From Mon.'s low it's had a .62 retrace to complete the 2 wave back. Look Out Below.

SP : tough one. The high at 1018 for Sep is still intact as I write but just barely. The entire move up is tough to count but we knew that. Big Picture is .382 retrace of the entire collapse is proving very tough to exceed. I CAN count 5 down from the high and an abc back up this morn.

Natural Gas: count as detailed in Nat Gas Wave Count still current. It is grinding down and can be expected to put in new lows . What it does around 3.00 will be the next big question. Maybe UNG issues new units.

WTI : has retraced 85% of it's move down off the highs at this morn's 72.21. The structure down really looks corrective so a retest of the Fri highs is not a big surprise. Gives an opportunity for it to fail.

Rbob...you're kidding right?

By popular request I have changed the spelling of Analyze This from the British to the American.
Just in case you're keeping track.

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