FOREIGN MARKETS: It appears the Far East stock markets in Japan, Singapore, Hong Kong, India and Australia have completed some fairly substantial impulse waves and are due for a correction of ten percent or more. The Nikkei in Japan has risen relentlessly since May 2005 (10,800 - 16,800) without a decent correction along the way. This last fifth wave was weak, which could lead to a pullback to the lower end of wave 3 at 13,800. In Singapore, the STI appears to have completed primary wave III from the May 2004 low (1700 - 2450). A pullback to the previous 4th wave at 2200 would be a normal correction. In Hong Kong, the HSI has been acting sloppy throughout this entire advance from the recent October lows. It may just be in an irregular B wave, if so, a pullback to 14,200 would be normal. In India, the BSE just made it over 10,000 for the first time, but accomplished it on a weakening MMI. A pullback to 9,000 may be in order. In Australia, the ASX appears to have completed primary wave III from the November 2003 lows (3200 - 4900). A pullback to the previous 4th wave at 4300 would also be normal. http://spaces.msn.com/caldaroEW/ For commentary and charts...posted on blog Feb 12th