Squawk Morning Briefing: Where Did The Euro Go?

There is virtually nothing new to report in the Euro today so no video as everything new can be summed up in a few lines of text. Elliott wave analysis gives us a concise way of viewing possible scenarios; assessing which are more likely; and confirming some and rejecting others based on price action. However, sometimes that leaves us waiting for the market to select its path and this is one of those times for the Euro.

There is also a useful lesson for the current situation in U. S. equities. While some scenarios may look more reasonable than others, once we start to embrace a scenario we need to see markets continue to act in a way that they would remain consistent with that view. That has us waiting to see at least another card before trying to confidently anticipate which of several paths prices might follow next.

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Elliott Squawk delivers thorough market preparation every morning in time to take action during the trading day. By combining up-to-the-minute futures activity with traditional end-of-day analysis from cash indices, you receive analysis based on the latest conditions as the trading day sets to open. Each issue of Elliott Squawk goes beyond traditional Elliott Wave analysis because we recognize that trading Elliott Waves is much more than just looking at the most likely current count. Squawk will prepare traders to assess the market action as it unfolds by answering questions that any Elliott Wave trader should consider:

• What price levels and wave motions would confirm an expected move?
• What price levels would make an alternate scenario more likely?
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• What intermarket movements merit special attention to understand likely price trends?

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From time-to-time when circumstances warrant, Squawk will present analyses of other markets that help interpret wave action in a covered market. For example:

• If S&P 500 and Dow counts are ambiguous and NASDAQ behavior helps identify the likely next move then NASDAQ analysis will be presented.
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