OEX is still below its 38.2% so the SPX has still got some upside room if it wants... Which would also fit koolblue's +/-1030 area Daily OEX
Dollar going to the MOON and the commodity stocks and CRUDE OIL couldn't care less! Looks like the ED really hooked a lot of people, once again!!!
saw it coming Landis... remember my question yesterday?(never got any replys!) i thought the dollar may have reached a MAJOR BOTTOM! (similar to 666 on the spx). Juries out but it sure looks possible , doesnt it?
There's an Elliott Wave Blogger by the name of Kenny who has been looking for a MAJOR LOW in the U.S. Dollar which would then take the S&P into Primary 3 on the downside. I bet today's action must be frying his BRAIN!!!
We've been keeping half an eye on the DX. Just niggles that everyone is see in the same thing... The move up from March 08 to March 09 being a ED wave ii would get peoples knickers in a twist.. This 5 wave move down being the first part of the iii. The patten goes back to the early 1980's being a cycle degree ABC.
Wave :5 came at last, Crude Oil near $73, SPX 1015 . Now no need for cheap $ . If this is 3)3.1:5 or 3)3.5, there may be another five-waves UP .
...yeah, i think EWI was also looking around there...not sure as im not a subscriber. AND honestly, truth be told, i was actually looking for the 74-75 area! just goes to show im not always right!