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!