bollingerbob's - nice little panic monday, page-79

dixie...

yur inverse theory with the aussie $ vs XJO
has plenty of merit, especially if the
Aussie goes into a corrective period
till the end of the year, could just
be the trigger the XJO needs to catch
up with all the other indices...

i could only eyeball the charts
as the free lunch seems to have ended
with current downloadable data on the aussie
from a popular site...

to keep it simple with a few points
on the aussie,

1. still relatively early in a longer term cycle
so potentially more future upside but short term maybe
a peak in this current 18m cycle and a corrective
period going in the end of the year which will
complete a more traditional time wise cycle...

2. Hurst bands suggest a retracement to the lower band
and u could argue a complete impulsive move between
the bands from jun 10 till may 11...

3. EW counts are interesting, one is probably more
stronger than the other being more classical but
its highly probable an A B C correction phase is
about to unfold...