It’s hard to say with a straight face, but it looks like an interim top in the wave 3 is finally declaring itself? We’ll have to see how the bounces pan out Thursday and Friday as to the confirmation but for now the structure and price levels reached fit well with the projections we’ve been working with, by spiking up and hitting right in the middle of the 15,400-15,660 range given in yesterday’s update. The problem moving forward will then …

The Nikkei has jumped on up through 15,500 in this morning’s trade which has me looking for a point where the wave iii of (v) of 3 should be starting to falter in a short term top. It would then be followed by a small wave iv of (v) of 3 and then up in the v of (v) of 3 before a move down in the larger wave 4 for a month or so. There are a few extension …

The Dow is stuck in a terminal uptrend, or so it feels. This is the price action of a wave 3 and although it feels like it will never end it Will. Until we break support levels though, it isn’t worth trying to trade against it despite it now being in nose bleed levels. The count is full which has me looking for a top. In the short-term (inside the next 3-5 days) we can have a couple of 3, …

The Dollar Index DX looks to be extending out the wave 4 of it’s 5 wave pattern which should be followed by a last run higher into the price targets surrounding 85.00 – 85.50. 86-86.20 loom as strong resistance areas for price to struggle with on the upside. The currencies have been enjoying some volatility and essentially haven’t traveled anywhere in what is typical wave 4 price action. The GBPUSD is about the only one that’s tested lower into it’s …