Bullish Head and Shoulder almost confirmed, bottoming too…

On July 9th, i posted my forecast for DJI and S&P (view http://swelltrader.blogspot.com/2009/07/stocks-market-major-bottom-in-making.html ). I was expecting price to unfold a short term Bearish H&S in both indexes, which should conform right shoulder of a bigger bullish H&S patter which, if confirmed, should mark bottoming of bearish move since actual economic crisis beginning. The bearish H&S, was a fake. Price broke neckline and pulled back to retest but it didn't and continued bullish until actual prices. The bearish move was nothing more than an AB=CD pattern which finished @ 8.087.32  in DJI and @ 869.73 in S&P.

After the bearish move, prices begun to move bullish to actual levels, reaching and breaking bigger Bullish H&S`s Neckline.

I expect price pullback to retest broken neckline and continue rising to reach H&S and Fibonacci fibfans+Fibonacci Retracements projections (green rectangles) Important to note that Elliott Wave counting shows that prices are now unfolding wave 3 of the entire move from the very low in March 06/2009.

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EURAUD, follow up & Elliott Wave analysis

	This was the last week outlook: http://swelltrader.blogspot.com/search/label/EURAUD Esta fue la visión de la semana pasada.
	That triangle seems to be a flag. El triangulo, aparentemente es una bandera.
	This is the Elliott Wave analysis for the last H4 wave down. Have to wait for a clear turn around to confirm EW 5 wave move finish.  Este es el análisis Elliott Wave para la última onda bajista en la franja de 4 horas. Hay que esperar un cambio claro de tendencia para confirmar el final del movimiento de 5 ondas EW.

NZDUSD, Void Head and Shoulders

	The forecast La Proyección
	The unfolding, expecting price copntinuing dropping after the retest El desarrollo, esperando que el precio continuara bajando después del retest.
	The failed pattern El Patrón fallido