SHORT TERM: futures rise, YM (DOW) +45
Overnight the Asian markets rose 0.6%. Europe opened higher but declined losing 0.2%. US markets were closed for the Memorial Day holiday. At the close of holiday futures trading ES (SPX) +6.50 and NQ (NDX) +15.0. Bonds lost 2 ticks, Crude rose 35 cents, Gold added $1.00, and the USD was lower. Tomorrow, Case-Shiller will be reported at 9:00, then Consumer confidence at 10:00.
Should the market open at current levels tomorrow it would be right in the first resistance zone between SPX 1324/28. The second zone is between SPX 1342/47. Support remains at the OEW 1313 and 1303 pivots. The market closed at SPX 1318 on friday. Best to your holiday and trading week!
MEDIUM TERM: downtrend may have bottomed
LONG TERM: bull market
the ELLIOTT WAVE lives on 
LikeLike
Still looking for 1419?
LikeLike
Heck Yes !
Aren’t we all ?
Hello ?
LikeLike
Agree with HD.Today’s lows look important, just as friday’s low was important heading into today.
LikeLike
Tony – how about 1499????
LikeLike
That’s our target for this uptrend, once it gets confirmed.
LikeLike
Thanks Tony
ESM just made a new HOD so Im sure something “news’ worthy will come out tonite and well get a 99% retrace or something in AH.
LikeLike
geez, that’s scary Lee!!
LikeLike
It is C B
Any thing else is pure speculation
LikeLike
I mean really, Lee, those Beastie Boys 😯 – it must be just me – I get intimidated easily by that kind of stuff.
Thanks Tony. Nice job HD. Thanks guys.
LikeLike
haaaaaa Thanks C B ! Those Beastie Boys were nice fellas Im sure
LikeLike
haa. OK only cuz you say so Lee… :))
Btw, folks I understand that Bernanke is testifying on June 7 (Congress), so maybe he’ll take us into another galaxy by then..
LikeLike
Time to give em “THE BUSINESS” imo 1324 is huge
LikeLike
thanks HD
LikeLike
Good job H D !
LikeLike
Hey Tony
Did u get over 100 f over the weekend ?
thanks
LikeLike
high 90’s I think … been dry and hot, wilting weatherjust rained for the first time in a week and half
LikeLike
Hi Tony
Your count seems to be different on the USD but could we be looking at a Wave 3 in action from 2011 low?
Tx – Charlie
LikeLike
Charlie, Unlikely.Currencies move in ABC’shttp://stockcharts.com/h-sc/ui?s=$USD&p=W&b=2&g=0&id=p07974253943&a=67200089&listNum=11Within the A’s and C’s five wave movements can occur.
LikeLike
OK – thanks for your patience. Looking at your chart is 87 a reasonable target? (A=C)
LikeLike
86-87 DXY has been the target
LikeLike
man, FB is brutal
i thought that one would make a good short someday, just not this soon. i should have known when one of my former coworkers – the only one on the team who does *not* use facebook – got IPO shares. nobody who uses it actually bought shares.
LikeLike
EURUSD Time Ratio…138.2…
http://astrofibo.blogspot.ca/2012/05/eurusd-time-ratio1382_29.html
LikeLike
All I know is that I’m not paying over $3.00 for a corn dog this year at the State Fair{s}
LikeLike
haa! Maybe $2.50 eh? new hours screwed it all up. If there was ever a case for an X wave there ya go.
LikeLike
Haha How bout it H D !
LikeLike
Still like 90 CL and now we have 90 and .618 back.
LikeLike
Thanks H D !
LikeLike
Best case scenarios intraday for DOW SPX NASDAQ NDX
http://www.wavegenius.com/2012/05/29/elliott-wave-noon-update-video-for-5-29-12-best-case-scenarios-for-dow-spx-nasdaq-ndx-youtube/
LikeLike