07/21/2012 Weekend Update

[xfradnex]

Okay, now this is rare - A PBar on the ES chart. This was what was on my charts today when i opened them 15 min ago. Hmmmmmm.......

I just noticed that the p-bar matches one of Cobra's support lines in Cobra's graph above. So that means it probably is a feeler for that level (to be taken more seriously) .

[TradingJackal]

Shared on Friday post that ES would gap down to finish whatever wave came after the triangle (wave 4s can be triangles in a 5 waver and wave B can be triangles in a 3 waver). So far so good. Another post yesterday showed potential for an Ending DIagonal in Wave C on SPY. If that is true, ES should turn up at around 1340 along with the with the Stochastics as shown below. A target of 139 on SPY would mean around 1386 on ES which would be an overshoot but it happens in an ED. Anything more than that we are up to something else!

[TradingJackal]

Updated SPY chart with the correction up as a zig-zag with 5 waves in A, and 5 in C (as an ED).

[KeiZai]

P-Bar alert

[KeiZai]

Did not posted this pic yesterday to show my true bias not going all-in with this count but it is a very real option

DAX

Clearly corrective pattern

[KeiZai]

Dollar short-term outlook

EDIT: Typo - need to be cautious

[KeiZai]

Kids we are getting close, one more pushup (SPX etc pushdown) and I´m going to dump 2/3 of shorts (1367 ES) and start to hedge /just in case/