The Mars Market Update — Live Research

There are currently 2 competing alternatives for the EUR/USD here... 1 - The high is in for the Euro and this impulsive decline from the high was wave (i) down (black count bearish) - Euro reversed from our target sell zone - GBP/USD has already broken down below trendline support 2 - This impulsive decline was wave c of an expanded flat meaning new highs are directly ahead (red count bullish). - The rise into the high appears to be in 3 waves which highlights caution for the bearish case -...

This is how I am counting the short term chart...   Well, that didn't work out. Big stop run in the Euro took me out of the trade. New highs for this rally. I will await another 5 waves down to identify another entry point. A decline below today's low of 1.3239 should lead the way for a larger decline. Patience is required here.

SPX had an inside range day, consolidating Friday's advance from the lows. While the generals (SPX/DJIA) are leading this final advance higher, it looks like the troops (RUT/DJT/BKX) are reluctant to follow. When the markets are fragmented like this, it pays to look for exhaustion and a fast reversal lower. With liquidity running out on Wednesday (coinciding with the FOMC announcement), it looks like we may be setting up for a rapid decline post FOMC. Therefore we need to be on alert for a...

As suggested in today's blog update, I have now gone long AUD/USD targeting 0.96 to the upside (4:1 risk/reward)Expect to add to position above 0.9318Stopped myself out. Didn't like the depth and steepness of decline through the trendchannel AUD/USD 60m

Initiating small short position hereWell, that's 5 waves down from today's high. The bullish case says it's a c wave lower, but I suspect it is a nested wave i of (iii)... 1.3296 now critical to the bear case. SL above this level.

Friday's sharp drop and reversal higher opens up the doors for the bulls right here. The DJIA's decline looks corrective and may have already put in it's 4th wave low whereas the SPX looks less clear. The US$ continued its way lower and appears to be consolidating right here without a clear reversal higher. That gives me pause for the immediately bearish Euro and Pound positions. The USD/JPY achieved my defined target below 98.00 in 3 impulsive waves and needs another 4th and 5th to complete a...

I'm travelling this weekend, so my update may be a little late on Monday. Another reason I covered my shortsThe DJIA chart doesn't look bearish... targets hit on the downside DJIA 30m

Completed structure??? EUR/USD 60m

Well, the SPX completed a nice 5 waves down last night in line with expectations and my projected roadmap. The US$ pushed to marginal new lows in what I expect to be the final decline before the strong US$ reasserts itself. There is no clear evidence of a change in trend for the US$ yet, but I think we are close.SPX completed a 5 wave impulsive decline from the highs for either wave (a) of (iv) or wave i of a more significant decline. I have initiated shorts in ESU3 with Stops above recent...