Feb 9, 2016
The move lower is not finished which is not a surprise and with this 50 points lower it counts better as wave 5 from the top in November. In fact if you are a bull you want to see a lower low this is much more bullish. The indexes look different. NYSE and DJIA well above the low, SP500 close to the low, Nasdaq and Russell2000 made a new low already. We have so far 3 waves lower from the top last week so waiting to see a finished pattern and reversal. The same story with the so called "risk off" trades - EUR/USD traded in the range 1,12-1,13, today USD/JPY traded in the middle of the range 114-115, TLT is in wave c of a huge a-b-c which begun in July 2015(see long term post). So we are waiting to see finished patterns and reversals for this trades too. Based on this I am expecting an important low for the stock indexes.