Dax Count

The Dax still paints the best picture to suggest Wave 3 of 1 is under way. Seems very weak compared to the other indices so might just be leading the way

FTSE and Wave 2's

Wave 2's i hate them with a passion! Theyre my least favourite wave because of the amount of work it undo's of wave 1. Anyway, has anyone else noticed how these waves even though they are corrective, correct up in 5 waves. See the four examples ive set out on the FTSE. If i hold my shorts, theyre gonna be in pretty bad shape, but its a risk im willing to take....for now

Indices

The Dax out of all the major indices has got the most impulsive count to suggest wave 3 down is under way. If we have had 5 waves down today, 61.8 takes us back just above the previous wave 4.

The other indices such as the Dow, S&P and FTSE look very messy but there is a possibility that the 1st wave down of 3 is a leading diagonal which i saw today as pointed out by Kenny http://kennystechnicalanalysisblog.blogspot.com/ and Daneric http://danericselliottwaves.blogspot.com/

Current positions opened and those closed

Closed

FTSE Year End 5221 - Stopped out for b/e
FTSE Year End 5168 - Closed for 16pts profit
S&P June 10 1091.2 - Closed for 1.95pts profit


Current short open positions

FTSE June 10: 5240 = currently 11pts up
FTSE June 10: 5035 = currently 194pts down
FTSE June 10: 5020 = currently 209pts down
Dax June 10: 5820 = currently 258pts up
Dax June 10: 5535 = currently 30pts down
Dax June 10: 5529 = currently 38pts down
FTSE Year End 10: 5170 = currently 24pts down
S&P June 10: 1116.38 = currently 27.75 up
S&P June 10: 1062 = currently 26.88 down
Dow Year End 10: 10249 = currently 144pts up
Dow Year End 10: 10076 = currently 48pts down
Dow Year End 10: 9837 = currently 285 pts down
Dow Year End 10: 9810 = currently 312 pts down

LIVE TRADE - FTSE

Short FTSE Year End at 5170

Finally back after being away due to work so i'll be updating my trades status and hopefully get some analysis done very soon. The rise up in my eyes looks to have finally topped at the 61.8 area and theres a juicy bear flag on the 15min too

LIVE TRADE closed

Got a connection from a hotel to check my positions. Am reducing 1 position as theres a chance we could go higher. Stops on the 2 highest positions i have on the s&p and ftse and dax at b/e.

Have closed S&P June short open from 1091.2 at 1089.25.

Current open positions

Not had any chance to post any analysis this past week nor am i likely to next week due to work commitments again but hopefully the week after that should be back to normal.

In terms of the indices count, i tend to agree with what most other EWT'ers are suggesting. The low from the 5th Feb and played out a ABC formation. So next week should take us back down. The alternative count being we're in a bigger wave 2 up.

All my orders i set last week triggered, so these are my current open short positions:

FTSE Year End: 5168 and 5221
FTSE June 10: 5035 and 5020
Dax June 10: 5820, 5535 and 5529
S&P June 10: 1116.38, 1091.2 and 1062
Dow Year End: 10249, 10076, 9837 and 9810

Am not looking to add any more positions now until we get some sort of clarity on the next count