OK, I borrowed this from the Purdue Gridiron's site...located on the rt. of the blog.. Pug as he is better known has always got great charts...so I had to use this one of the $USD... it really sucks when you cut your finger and can not type..band-aids..ugg...anyway..it resembles the $SPX alot in reverse..if you can imagine that in your head or just pull up a chart... So that would explain the sudden turn that we had on Fri, and why we ended on a pos.note. Now if you go to Pug's site, he has the dollar tanking...I do not agree, as I have stated in my two scenerio's I feel we just completed a "B" wave, so in turn so did the $ to the upside instead of the downside..classic if u ask me...off with the bandaid...OK, now lets chat..bear with me OK, if you look at Nov high that would have ended a move to the upside, was it a wave 1,or 3 I do not know..but the dollar fell till Dec/Jan area of 09 for what I call wave "A" then momentum set in for wave "B", till Mar/april 09, then we fell into a "C" wave or this C turned into a possible ending diagonal triangle...does that ring a bell...with the $SPX???? Are you following me on my thoughts...OK, so since its a possible C wave it was corrective but the trend to the dollar long term(meaning years) has been Bullish...and so the opposite with the $SPX, we are in a larger Degree Bear Market...so why I used his chart again was for his great display of the 200dma(day moving ave.) it lies on some great support, and so does the 50 dma...if you notice the 50 is moving up about to cross the 200 in a few days...at times this is bullish...short term...but they do not have to cross, the 200 could hold at $78.37 and then turn to the upside again...hence the short corrective move that I am looking for in the $SPX as a smaller degree posible 2nd wave scenerio of a C wave and then back dow we go...and short term on both charts they have hit resistance, and it is strong, on both charts.. I ran a Fibonacci retrace from the top of this fall on $SPX on 2/2/10 to the bottom we hit yesterday it retrace exactly 38.2%.! Now we also hit a 23.6% on the entire move down from 1/19/10, could that be it, well Yes it could and to be honest we did 5 waves up so look for a down move on Mon. that could either bounce for a B down move or be just a continuation of the bear move, Or we could be In R's larger degree C wave that could go higher...here's the numbers..23.6%=1069.12 38.2%=1084.56 50%=1097.04 61.8%= 1109.52 so that is the fibs from the entire move so far...I am exhausted...we must have gotten close to 2ft of snow and I was in the saddle for almost 11 hours last night.. so I am going to go veg for the rest of the wkend...RK..I will give you an update tomorrow night or tonight I guess now that I just looked at the clock. C, where are U?? A, are you out there ?? OK night all...later L
