Low risk trade idea GBP/USD 9 June 2009

GBP/USD technical update 9 June 2009 Although the GBP/USD dipped someway below my preferred support at 1.5920, the drop has all but reinforced my view that we could be set up for a significant down move in the coming weeks. Anyway, for the short term trader, a...

Is Gold ready to collapse? 7 June 2009

Gold is showing signs of fatigue Has Gold completed its 2nd retracement that often follows a fifth wave extension? This is an important question because if Gold has indeed finished its upmove, what should follow is a significant down move that could reach 650, or...

India’s Sensex readies for correction

This 10-minute chart gives early warning of an imminent S/T topThe Indian stock markets have been in a tizzy following a resounding victory by the Congress party. The Sensex gapped higher from 12219 a day before to open at 13479 the day after the election results....

S&P500 index breaks higher: update 2nd June 2009

The Index Makes Fresh 2009 Highs After repeated failed attempts to break the support at 880 levels, the S&P500 index has finally rallied to fresh 2009 highs. Where does this leave the Elliott wave analyst who has been looking for an eventual move lower towards...