euro gbp in for a big move?

BIG triangle..measured move from a break downside would be to 0.7660

about 1.30 € to pound...

good for pensioners and £ earning ex pats!

CONVERSELY a a failed break and a rally back up through the descending trendline may mean parity on the cards again...

GBP JPY ..short idea..

Self explanatory ..LOOK at charts!    

DAX 2 hour charts Diamond formation?

Extract from Edwards and Magee  "  Technical Analysis of Stock Trends"

 

"Diamond is not a common pattern. Since it's development requires fairly active markets, it RARELY occurs at bottom reversals.  It's "natural habitat" is Major Tops and high volume tops which precede extensive Intermediate reactions.  generally the new trend carries WELL beyond the minimum retracement. "

 

LET's see which way it breaks!!

Minimum targets....

on downside 4640

IF it breaks higher..5101 roughly

dow

 Also what about THAT big descending trendline?  A break above and THINGS become more BULLISH...IF we break

BKX again..!

Looks like H&S formation won over on the short term...

HOWEVER also looks like the bearish wedge is still valid....

from Edwards and Magee  "prices almost always fluctuate within the wedges confines for at elast 2/3 fo the distance from the base (beginning of convergence) to the apex...in many cases they rise clear to the apex and in some they actiually go a short distance beyond in a LAST GASP rally before collapsing"

link to previous BKX post

http://iberianviews.blogspot.com/2009/04/bkx-revisited.html

nasdaq

Finally a break through the uptrend since March lows...now will it follow through...??

1/3 correction 1306

1/2 correction 1239

Dow 1929 /1931 and NOW....

 DOW 1929..had a 49 % fall from the highs...then over 6 months recouped 50 % of the fall....

BUT then a down trend which lasted 2 yrs and 3 months..with  a total loss form the 1929 highs of 89%...

are WE going to see similar??  

comparisons abound with that era..history doesn't always repeat exactly...BUT human emotions are unchanged...so perhaps...

On the plus we may see a "bull" run for 6 months...but with world economied mired in debt, and joblessness the long run looks none too good...

DOW NOW... and possible paths...highlighted...in blue arrows