June 5, 2009

06/05/2009 Intraday update

3:12pm

So far, it’s still within my count.  next week will be bullish if we break out the box in today’s trading…

 

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2:57pm

rebound is a little than i thought, then we may have a selloff at today’s close…

 

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2:39pm

maybe a small rebound from here is small wave 5 is not extended from here…

 

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2:13pm

Two charts:

At today’s high, XLF financially  hit the fading 200ma, but still failed to make a higher high. 

 

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As i said one hour ago, there will be more downside with the EUR/USD, check it out

 

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2:08pm

key levels to watch.  1st zone bear must take out to claim a victory; next one is the yellow one.

 

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1:00pm

From the sector overview, you can hardly tell why market is up.  only technology and material has some gain…

 

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1:28pm

I tend to agree that this morning’s peak is the top for this rally.  Index will follow USD and have a sharp drop soon. 

 

 

1:16pm

EUR/USD is a clear head & shoulder pattern.  more downside coming…

 

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1:13pm

Dollar is strong and yield is flying.  not good for the market. 

 

5:51am

If we continue higher today and make a higher high, then this is the final climax run- 950 could be the peak

If we have a decent pullback and 200ma on 15min chart hold well, we may see 980 next week.

Financials are the key to watch.

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