ES Futures Update!

The first overlapping structure has now occured on the Es's which shows a loss of Momentum. I'd rather be flat the weekend than sorry! Keep in mind that in last nights report we stated that there is cyclical pressure coming on 4/1/2011 which is today!

Euro Update !!!!!!!

Timing was the Low but we are near an area that could reverse the market. Long range price target comes in at 1.4257. I'd be leery of staying long over the weekend. I personally will be flat at the close!

ES Futures Update

Keep in mind that there is timing coming in for today and would recommend bring stops up to below the channel. Fibs are still active!

Euro Update

With the jobs report now in I'm cautiously looking for the Euro to move to a new high, for this to remain valid the 1.4088 level must hold. Timing is also in.

E-Mini Crude Futures

Those long crude (day trader) may want to consider tightening up stops .. this is may futures.. trade cautiously ..

--Tony

ES Futures

The Es's continue to climb the active Fibonacci grid!

Euro Time/Price Update

The euro is nearing a very strong time and price magnet. I does not necassarily meen it will stop there! It just means it will get there! Tightening stops is advised on longs.

Euro Time/Price Progression

We are looking for the euro to meet our time projection of 4/1/22 at 1.4258 at which point the Euro should reverse for a larger degree correction! Timing is for 12:00 pm.

Es Futures

The Es futures are following the grid like a ladder! :) We should see a new high before this is complete then afterware we should get a prolonged sideways correction!

Euro Mechanics

Euro has not breached 1st wave territory as seen on the chart. Ideally we could make another low but there are now 5 substructures in this last leg down so I'd be hands out. Could we see a truncated 5th wave here? Why risk a trade on something that is 50/50? Time will show us what to do.

ES's Elliott Structure

When using Elliott wave its best to let go of ones bias and just let the market do what it needs to do. Here is my bias! if we break the yesterdays low a small degree 5 waves will have completed which should cause a corrective pop only to sell into for another 5 small waves in the least. If we go into wave 1 territory then this was just another correction. By being objective there's no reason why a person can't make money on this. I personally closed 2/3 of my short off the 161.8% projection at the low since it was identified as 3 waves so why sweat it! Let the market show you the next direction, :)

ES Setup

The following is an explanation of the Vectors from yesterday. If you don't know what a vector is then in time you'll find out. The blue lines on the chart are the vector ratios of both time and price! The red lines are the division of the time bars. If those ratios don't stick out to you then here is a short explanation. The 1.250 is the Mi note in diatonic octaves! The red lines are a derivitive of the square root of 5 and the Fibonacci 4.236 ratio. Anyone think the market moves mathematically. All while pushing up against a 161.8% Fibonacci projection! :)

Euro Update

Yesterday we where expecting a bounce to occur on the Euro. A nearly perfect 1:1 ratio developed. Well the bounce has happened and there are three easily identifiable waves which we find a good practice is to take profit and let the market carve out its next move so we can jump back in!

Es Vector Ratio

The vector ratio of leg C and the present leg moving into the 161.8% Projection is 1.250 or the Diatonic Mi note!

Es Time Ratio

The time ratios of waves 1 and 5 are .236 and 4.236 which leads to evidence that the corrective pull back could start here!

Es Futures

The S&P futures are now up against a 161.8% Fibonacci projection level and it would be recommended to tighten stops on longs for a corrective pull back!

Euro Correction

This evenings action on the Eur/Usd has now met all ratios required to consider it a full correction so we would suggest tighten up on any stops on the short side. God speed! It is not recommended going long unless there is a secondary higher low!