Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Friday, December 9, 2011

DAX Elliott waves for FUN

Not an expert so more a bit of mental masturbation and a bit of fun whilst waiting for the NEWS !! So it seems everybody is bearish again; VIX at high levels, "shoot sell first , ask questions later" mentality prevailing, well to some the recent fall in the markets may just be a correction of the big run up from 25 Nov lows. Of course the DAX has been sold more than others (Germany at core of Europe, plus inherently more volatile), so here's a look at a POSSIBLE wave count (Elliott Wave, IMHO usually not good at forecasts BUT quite good to look at in retrospect)..

Obviously this is the BULL scenario at least in the Mid term...once wave 2 completes...then the BIG wave 3 down occurs!

Any "experts" on EW more than welcome to comment.

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