(Z) “c”

S&P 500 mini Futures (180 min.)
I still think we get a little more congestion before getting the next -y- wave higher. If the market takes out 1113 today, then we’ll have to assume that 1084.5 concluded the -x- wave and 1129 becomes the next target for 61.8% of -w- = -y-.

-y-w(c)
[5]
1113

1129

(x)
[b]

-x-

(b) (d)

[3]

[4]

[a]
1084.5

-w-

[1] (a) [2]

(y)

[c]

-x-

(a)
(c)

(w)
ALT: -x-

(b)

(e)

-y- of a

Andy’s Technical Commentary__________________________________________________________________________________________________

(Z) “c”

S&P 500 mini Futures (180 min.)
The reason short term model confidence is low is that we could just as easily be looking at this development where an (abc) correction finished as we had thought, but now we’re going to lapse into an -x- wave development which will precede another (abc) move higher. It’s never easy being a short….

-w(c)
[3] [5]
[.5] [.3]

-x-

[.1]

[.4]

[4]

-x-

[1]

-w(a)
[2]

[.2]

(b)

REPRINTED FROM 2/25/2010

-y-

Andy’s Technical Commentary__________________________________________________________________________________________________

z of “d”
-c-

Dollar Index (180 minute)
y
-g80.68

81.70 to 82?

-a-

-e-

-b-

w
-c-

-c-f-a-b76.60

x2

79.53

-d-

-a-b-

x1
This model has been serving us well, so we’ll just stick with it. It looks like we need at least another wave higher to the complete the triple and provide nice time alternation with the “b” wave. 79.53 remains an obvious level of support for this market. A break of that point would be good evidence that the “e” wave lower would be underway. The Wall Street Journal lead story talking about how “Big Hedge Funds” were pounding the Euro was NOT a good story for Dollar Bulls--it’s the sort of story you see near an inflection point.

Andy’s Technical Commentary__________________________________________________________________________________________________

Copper - 20 Minute

This has an “impulsive” look to it

The massive earthquake that hit Chile over the weekend was obviously huge news for the Copper market, as Chile is such a large producer of the metal. The market has gapped up on the news, but has since fallen in an ominous fashion. It’ll really be interesting to see how Copper finishes the trading day. Some sort of shooting star top on the Daily chart would clearly be BEARISH for copper, a sure signal that a major top was put in earlier this year.

Trading below this gap at $3.28 would look horribly bearish.

Andy’s Technical Commentary__________________________________________________________________________________________________

DISCLAIMER WARNING DISCLAIMER WARNING DISCLAIMER

This report should not be interpreted as investment advice of any kind. This report is technical commentary only. The author is NOT representing himself as a CTA or CFA or Investment/Trading Advisor of any kind. This merely reflects the author’s interpretation of technical analysis. The author may or may not trade in the markets discussed. The author may hold positions opposite of what may by inferred by this report. The information contained in this commentary is taken from sources the author believes to be reliable, but it is not guaranteed by the author as to the accuracy or completeness thereof and is sent to you for information purposes only. Commodity trading involves risk and is not for everyone. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading: Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.

Wave Symbology "I" or "A" I or A <I>or <A> -I- or -A(I) or (A) "1“ or "a" 1 or a -1- or -a(1) or (a) [1] or [a] [.1] or [.a] = Grand Supercycle = Supercycle = Cycle = Primary = Intermediate = Minor = Minute = Minuette = Sub-minuette = Micro = Sub-Micro

Sign up to vote on this title
UsefulNot useful