Catch Up

On the road yesterday and so.....
First thing to catch my eye is the Euro will achieve C=A up off the spot lows of 1.1870 around 1.2770, also the 50% retrace point of the last leg down, which I've got labeled 3. A nice classic zig zag corrective 4th wave.
Secondly the Yen appears to be holding the 50% retrace point of it's last leg up, which I've got labeled -3-. Taking out Yest.'s high  113.69 should signal a resumption of it's rally and a test of the 117 level , see
Thirdly, the SP has retraced .76 of IT"S last leg down.

click to enlarge
(The labeling on this chart is likely going to be changed up a little by the end of the week, but the overall picture is of a significant move lower, the speed with which it occurs is the issue...)

 So all in all could be a little tough for the WTI to make much serious headway here beyond IT'S  .76 retrace.
click to enlarge
 (Again the labeling could change esp if the .76 fails, the -2- may end up becoming a "c" of 2)

One thing that strikes me is the continued lack of an accelerating leg , the -3- of 3 etc showing up yet. This collapse of credit and assets beginning around 2007 has always been a "slow moving train wreck", so slow that for many it's imperceptible.  Whether that reflects the manipulation of central gov.s or not will not make any difference in the long run. It is not every day we see turns in the market of Grand Super Cycle degree or even Primary degree.


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