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Thursday, December 17, 2009

Possible Overnight Counts

Taking a look at the futures. Here are some possible counts. The ES count is predicated upon the trendline holding at the end of the 5 wave sequence. The DXY count is predicated upon the assumption that the pattern really is an ending diagonal, and this was the end of the current leg of the Dollar rally.

If the DXY count is accurate and it is topping for the short term, then this would help to support the next leg of the stock market advance.

If it is not .... things get a bit more interesting :)
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