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We Rock!

If we’re just going off of this morning’s calls, we rock.  The Dow reversed from the 50 day SMA just as we suggested it might just as the EURUSD decided it needed to put in a better looking five-wave decline to complete in [5] as it revisited the FibGrid fireline.  2-for-2.  However, we need to pause before we gloat.  While The Dow finished the day just below its fireline, it remains unclear that the morning highs represent the end of our wave ii correction.  The pop into our target region was not convincing as a completed corrective wave.  The move down from that swing high may be showing some impulsive intent, but that remains unconfirmed.

So we have some questions to grapple with tonight as we prepare for tomorrow morning’s update:

  • Is Dow wave ii complete?
  • How will we confirm one way or the other?
  • How might we trade it?
  • What’s next for the EURUSD?
  • Will the dynamic duo escape the firm clutches of the FibGrid fireline?

We’ll address these and more as we prepare for tomorrow’s markets.  You know the rest…  same wave time…   same wave channel…

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