I have decided to stand aside today. At 1200 GMT the markets seems range bound in the four hour time frame awaiting some direction from US policy makers. It will still be there tomorrow.
For Elliott people I still feel that there is a wave 5 down to be completed in the Dow. At present we seem to be charting out a wave 2 of a wave 5. This means that there is a wave 3 down about to start in the next day or so. The Euro$ will follow it down.
Good Trading
David
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