Squawk Morning Briefing: What’s The Euro Doing?

While our attention has been occupied by questions of whether we’re near an important turn back down in U. S. equities, the Euro has some impressive moves down over the past couple of days. We’ve been waiting on today’s BLS report thinking that a big reaction in either direction might help to shed some light on the situation with equities. If we also get a decent reaction in the forex markets, it might help clear things up there as well.

Today we have a Euro video that is slightly longer than usual in order to factor in the moves of the last few days. Now all that’s left is to wait for the report due in a few minutes and the reaction through the cash session. Hopefully the various scenarios we’ve considered in all markets the markets we cover will prepare us to process whatever moves might come on the heels of this market-moving report. Early next week we’ll factor it all into our analysis with our DJIA video on Sunday night and other markets on Monday morning

Read the Rest Now

The rest of this article is available to subscribers to the Elliott Squawk newsletter. Subscribers can login here to view the update. If you would like to receive this content, signup now for immediate access.

The Elliott Squawk Newsletter

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?
• What technical indicators should be watched throughout the day to interpret wave action?
• What intermarket movements merit special attention to understand likely price trends?

Markets Covered:

Each day Elliott Squawk will update the outlook for the following markets:

• The Dow Jones Industrial Average
• YM e-Mini Dow Futures
• The S&P 500
• The EUR/USD cross
• The U.S. Dollar Index
• U.S. Treasury bond futures

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.
• If the EUR/USD count is ambiguous and the USD/CHF cross helps us to understand what might happen then we’ll present the intermarket analysis the Squawk subscribers.

At the end of the day Squawk subscribers will receive a brief market recap that summarizes how the day’s events compared with expectations and what issues are likely to be analyzed in the following morning’s Elliot Squawk.

About the Analysts

Kevin McEwen and David Starr are best known to First Wave chat room participants as Kevy99 and Managematics and by their reputation for their Elliott Wave counts that have predicted market turning points. Kevin has been counting Elliott Waves for 28 years, successfully forecasting market moves in virtually every financial environment. David brings together talents in financial market analysis and software development to his wave counting. He has authored many of the studies used by First Wave Traders as well as a number of proprietary studies to aid in counting waves.

To receive daily Elliot Squawk updates and get immediate access to this article and the entire archiive signup now.