Tuesday, October 06, 2009

Hourly FXE chart

As per Oct 5th 6PM EST post

So far so good

Market acted the way I expected (see Sunday’s post), B wave hourly of sequence up is underway, from now on unless new highs on major indexes are established I will gladly use Bull Traps to short / re-short closer to expected levels.  No chart needed for today – expecting higher than today’s high tomorrow and I’ll take it from there.

Today’s action confirmed my point of view, B has been “printed” with highs right at TDSequential Setup Sell very close to TDST Resistance.  Unless NEW HIGHS will be set on major indexes I will remain short/intermediate term bearishly positioned.  Below is an hourly chart of (FXE) EURO Currency Trust – I thought since (SPX) S&P500 chart looks exactly the same – you might enjoy (FXE) tonight.




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