S&P Wave ii (bearish) in progress

Finally prices begun to correct, unfolding wave ii within the bigger bullish wave 3. I expect this correction to finish within the fib zone remarked with the green rectangle. Since the next bullish move after wave ii end will be wave iii of a bigger wave 3, is expected to be a huge and maybe violent move.

The big picture should be like the graph below

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Stocks, bottom confirmed?

With bullish Head and Shoulder`s neckline already broken, i`ll should wait for a decisive retest of this one; but due to GDP number better than expected released this morning, continuation without a pullback for retest could be possible. For detailed explanation of my forecast, see my videocast @ http://www.screencast.com/users/GustavoForex/folders/Swelltrader/media/8f6e9875-9ad1-422c-a6b1-332d0600e0cb

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USDCAD H4 Bearish Head and Shoulders… follow up

Nice unfolding of this Head and Shoulders Top.

Spotted on July 13

Nice unfolding. Green rectangle shows Head and Shoulder Pattern.

The pattern located within the bearish trend

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Oil, continuation Head and Shoulders?

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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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EURUSD, Bearish Short term H&S in the making…

Bullish breakout?  Today may not be the day.

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USDJPY, very low risk Short Entry (H&S Pattern)

Additionally to the bearish Head and Shoulders Pattern showed above, COT report (Commitment of Traders) analysis (below) for USDJPY, shows that the Non Commercials has been flipped to a Net Short position, after 16 weeks of indecision, which corresponds with the time expended for the H&S pattern to conform. Rising red line, which shows Open Interest development, means that new money is jumping into the market. I`ll maintain this trade until the COT report flips again but to a Net Long position and i will do it in a demo account, since is my first time in this kind of analysis.

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