Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
Thursday, July 8, 2010
SPX, EUR/USD and TRANS AM UPDATE
I would say the positive MACD divergence I have been watching is certainly in effect. Notice now the daily buy signal on tap as well.
So far a challenge of the 21 daily EMA has occurred. As posted yesterday, the 1071-1085 levels will be ones to watch.
Almost there. 1.27 looks like a good target. Keepin an eye on 1.31 as well.
I posted this chart a few weeks back. At the time the pattern looked like a pennant. What about a bull flag now?