Wednesday, November 12, 2008

2008-11-12 Market Watch

SPX daily: it seems the wave iv of 3 is over and wave v is forming.  However wave iv looks a bit too short and the internal structure doesn't look right.  Another possibility is to form a zigzag wave iv.  The hourly chart [right] looks very bearish and the selling off may likely continue.

image (daily) image (60-min)

Update to yesterday's USD/JPY: very bearish!

image

SKF: next entry 180-185.

image

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