The Dow failed to take out 16,700 yesterday so no five waves down at this point. Triple witching is on Friday.
2. UK FTSE 100
FTSE is now at 6,762, up 8 points. FTSE is still below the triangle and we need to see acceptance above 6,800 to negate the negatives…
3. The German DAX
The DAX is now at 9,966 up 82 points. The DAX shot up this morning and generally looks more positive…
4. The US DOW
The Dow closed yesterday at 16,781, up 5 points, with the spread betters now quoting it at 16,821 (+40). The rally on the Dow remains highly corrective still allowing for a fifth wave move below 16700…
5. The Japanese NIKKEI DOW
The Nikkei Dow closed at 14,975, up 42 points. Upside acceleration would suggest new highs.
6. US T-BOND
Bonds have moved up in what I believe is an a-b-c correction, we may now have peaked.
7. Gold (UK cash)
Gold is back below $1,300 and may see $1,200.
GBP/EUR and GBP/USD continue to trend up.