Waves.global - Dow begins the iii of 3

This is what we said on 08 Jan “Dow at 9000 before the end of H1 2010 might look like a tough target, mainly because of the time forecast involved. Why before Jun 2010? The other question is where will Dow go before it turns down? Is Dow 11,000 achievable or are we talking about a few 100 points more till 10,700 and then the anticipated reversal? 11,000 we don’t know now, but Dow 10,700, Yes, looks likely.“

DOW made a high at 10,729 and reversed 8% lower till 9,900. This is still a far shot from where we see it going before Jun (at 9,000). There is also another doubt, whether the ongoing break down is for real?

In the same report we also mentioned “Dow does not work in an isolated world. It is an intermarket asset. Last few weeks has seen inflexions across currencies around the world, even the Dollar witnessed a bout of strengthening. These inflexions have come after 12-15 months of trend and suggest that multi month reversals are in. Now, it is just a matter of time, a few weeks at best that the Dow should follow.”

What happened. EURUSD fell by 10%. This ain’t a small move for the dollar. And like always we have reasons explaining why it happened. News of the Greece bailout and all the ‘PIGS’ (acronym for Portugal, Italy, Greece and Spain) news.

We said “Brazilian BVSP extreme momentum made first reversal signs. This comes at a time when we hear more positive stories on Brazil. IRTS Moscow tests 200 DMA, a big resistance. SSEC China has an ongoing corrective and potentially some upside left. Sensex India lacks a clear impulsive structure and is in an ending 3-3-3-3-3 formation. Hang Seng also seems in the final minor leg up.”

What happened, all of Brazil, China, India, Russia met key resistances and turned lower. The latest Waves Global preferred view is the 3 of 3. This is an Elliott jargon, which gets popular every passing day as more people start to look at market patterns. The 3 of 3 is sharp and fast. We don’t see a pause now, markets are ready to loosen up more. Above 10,100 DOW preferred is challenged and its time to review. Till then get ready for some Valentine action.

Enjoy the latest WAVES.GLOBAL

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WAVES.GLOBAL is a perspective product published on Monday. The report highlights top GLOBAL indices and emerging market indices viz. Dow Jones Industrial (.DJI), S&P 500 (.GSPC), German DAX (.GDAXI), Russian IRTS (.IRTS), Shanghai Composite (.SSEC), Nikkei 225 (.N225), Brazil BOVESPA (.BVSP), Indian Sensex (.BSESN). The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools, sentiment indicators and other alternative research tools like INTERMARKET to spot outperformers and market trends.






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  1. Bharat
    Posted 11 February, 2010 at 06:57 | Permalink

    Can I know what is you target for sensex(12000-13000)/ nifty (3900-4000) and by when?


  2. Posted 21 February, 2010 at 10:28 | Permalink

    Thanks for the post. We are looking at 9-12 Mar window top for the year. For further details please subscribe to Orpheus India Research services.

    Orpheus Research

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