Make your choice Neo: red our blue

2 possible midterm scenario: blue and red one. I don't take in account an outcome where Bernanke wins and we get the DGDF (Dollar Goes Down Forever).
I prefer the red one, where the world economy as well as Bernanke's credibility (if there is still any) will be killed by high commodities prices.

Short term USD index, update

The current count for USD index is confirmed, I think there are pretty good chances the dollar has bottomed, but I'd like to see some more upside action before the correction starts:

The short-term USD index

The previous count of EUR/USD is still valid. Here is an USD index count, which has a clearer stucture:

DJIA short term update

The market seems to be in the final 5th wave of the move started in late August.

And the fuel (fear ) is burning out quiet fast:

USD: possible targets

Midterm DJIA

The moment of truth for PM is coming

Let's see if gold stocks and silver will be able to confirm the gold rally. The high of 2008 is at about 57 :

For the silver we're close to the  2008 high too:

Is Ben really almighty as he may pretend and can change natural lows of deflation and inflation:

The coming  days are really important and will show the direction for the future market action not only in the PM sector.

Gold, it seems to be over, at least for a while

Is it a truncated 5th or there is one marginal high, say around 1280, in cards?

 

Short term EUR/USD

The final version of the summer corrective rally is shown bellow. Nothing new, except that the C wave of the correction has developed as a zig zag and not a  5 I've been looking for.  As for me, that had a cost of about 100 pips of missed profit.
So, now, I'm pretty sure that we've entered the 3d minute wave down with the target of at least 1.215. The crossing of 1.2587 will confirm the move and if ever we manage to bounce back ant take the 1.2922 resistance we shouldn't go higher than 1.31 level.

AUD/USD: the end is nigh

My best guess for an important, as for the stock market, currency pair: AUD/USD.

It seems that we're near the end of the correction, more precisely in the C which has the form of the ending diagonal. I estimate the end of this wave and thus of the entire correction at 0.9246