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Thank you guys!
I generally agree with Stag's point of view, as the wave structure seems clear now. The question now is whether this was wave 1 up, consisting of five small waves, or it was a very impulsive wave C, caused by the above comments. In any case, you are right that there should be a three wave down correction now. Time will tell which scenario unfolds, as market could retrace anywhere between 23.6 and 61.8 percent. However, there is always a possibility of some kind of flat correction, thanks to the upward pressure, although Friday's drop suggests that somebody big just transferred the money out of Europe.
Nice analysis on the macro economic issues, even though it seems to be done in isolation. While those could potentially justify some reaction, it is far from what happened. What unfolded over the course over the last few months was a criminal action of the big banks, which served the interests of the big corporations. US deficits and debts are nothing compared to what Japan and Europe have. Also, the latest currency war is a possible death kneel to both of those economies. Strong Euro is detrimental to everyone in Europe, except Germany. Can you imagine how they printed 2 trillion Euros over the course of last, three years, presumably to boost spending, and prevent deflation. Now, all that money might flow to USA, as profit repatriation. Simply a disaster, which FED puppet Mario Draghi is very well aware of.
And, I stand by my statement that supercomputers are involved in FOREX and commodity trading. If you ever watch small timeframe, 5 or 15 minutes, it is recognisable by the wobbling movements. And, if those are happening when markets try to go down, then it is certain that an opposite course of direction will be taken. Those computers are being fed with all possible analysis, including EW, while being supplied by the unlimited amount of printed money.
And, Stag is right that everything should move in the opposite direction, simply because USD will have a correction.
Having said that a correction might be underway, it will be a very volatile ride, and I wish you all a lot of good luck!
I generally agree with Stag's point of view, as the wave structure seems clear now. The question now is whether this was wave 1 up, consisting of five small waves, or it was a very impulsive wave C, caused by the above comments. In any case, you are right that there should be a three wave down correction now. Time will tell which scenario unfolds, as market could retrace anywhere between 23.6 and 61.8 percent. However, there is always a possibility of some kind of flat correction, thanks to the upward pressure, although Friday's drop suggests that somebody big just transferred the money out of Europe.
Nice analysis on the macro economic issues, even though it seems to be done in isolation. While those could potentially justify some reaction, it is far from what happened. What unfolded over the course over the last few months was a criminal action of the big banks, which served the interests of the big corporations. US deficits and debts are nothing compared to what Japan and Europe have. Also, the latest currency war is a possible death kneel to both of those economies. Strong Euro is detrimental to everyone in Europe, except Germany. Can you imagine how they printed 2 trillion Euros over the course of last, three years, presumably to boost spending, and prevent deflation. Now, all that money might flow to USA, as profit repatriation. Simply a disaster, which FED puppet Mario Draghi is very well aware of.
And, I stand by my statement that supercomputers are involved in FOREX and commodity trading. If you ever watch small timeframe, 5 or 15 minutes, it is recognisable by the wobbling movements. And, if those are happening when markets try to go down, then it is certain that an opposite course of direction will be taken. Those computers are being fed with all possible analysis, including EW, while being supplied by the unlimited amount of printed money.
And, Stag is right that everything should move in the opposite direction, simply because USD will have a correction.
Having said that a correction might be underway, it will be a very volatile ride, and I wish you all a lot of good luck!
