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As you know, I'm busy working with some tax experts regarding the offering of digital products outside of the U.S. At present, non-US visitors to mikesinibaldi.com are currently limited to free subscription content areas of the Site.

I've Got News

I've made some tweaks to the Sinibaldi Digest. It's now called Mike Sinibaldi's Elliott Wave Briefs (btw---it's free) so everyone can get more of my elliott wave analysis and insights. In just under five minutes, you'll know what's on my mind with regard to:

• The S&P 500 or Emini S&P Futures, 
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So make sure you make Mike Sinibaldi's Elliott Wave Briefs part of your day. Five minutes and you'll have know what to expect.

The new format begins on Monday, so make sure to subscribe and take full advantage of this service.

For now, here's today's free update ---  http://bit.ly/15QSN8A

Best of Trading

Does $USD - JPY Have Room To Run?

$USD-JPY  has progressed nicely and looks to have completed w.(3) of an ongoing advance that should unfold in five waves. Currently, w.(3) =2.618 w.(1). Should my assessment of this currency pair and preferred wave interpretation be proven correct then a fourth wave should be underway. Prints above 99.947 would negate my bias and be subject to re-evaluation of subsequent price action. 

According to the guidelines of elliott wave theory, 2nd and 4th waves typically alternate and are usually Fibonacci relationships to each other in both time and length. Since w.(2) unfolded in zig-zag, I'm looking for w.(4) to unfold in a time consuming sideways to down affair whose extent would target the most common Fibonacci relationship of w.(4) = .382 w.(3) or 91.04. Thereafter, a final impulsive rally should unfold in five waves to complete w.1 circle.

With regards to time, w.(2) took six months. Accordingly, w.(4) should be a Fibonacci multiple of w.(2) or put another way, w.(2) is a Fibonacci multiple of w.(4).  

Let's leave it there for now and see what develops.

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

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Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article. 

Euro and Aussie Currency Counts

EURO DOLLAR

As my preferred count, the Euro is working a bearish contracting triangle whereas, w.(E) will unfold in three waves that will be followed by a substantial decline. 

One could argue that the triangle is bullish in nature, whereas w.(D) would be unfolding and another three wave decline for w. (E) which wouldn't break 1.2051. Under this alternate count, the long term outcome would imply a thrust move above 1.5988.

AUSSIE DOLLAR

Much like the Euro Dollar, Aussie also exhibit a triangular formation but in this case, the triangle is labeled complete and a thrusting w. (V) should be underway. A break below 1.0089 would negate the fact that w.(V) was underway. Only a break below w.C circle (.9564) would concern the overall interpretation.

Best of Trading

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ElliottwaveLive is not an investment advisory service or broker dealer. None of its contributors are registered investment advisors, licensed stock brokers or CTA's. The author may hold short term and long term positions in the futures, stocks and ETF's discussed herein. The author may also trade around those positions which may be in direct conflict with your positions. Complete trade disclosures of the contributor’s holdings are posted at www.elliottwavelive.blogspot.com. See Trader Disclosure. 

Trade at your own risk. The blog site, Newsletter and all other information, material and content accessible from this Site (collectively, the "Content")  provided herein provides the context for market analysis with respect to a market's, a security or a commodity's general position utilizing the Elliott Wave Principle. The Content contained herein are the opinion and general comments of the author and is based upon information that Mr. Sinibaldi considers reliable but neither ElliottWaveLive nor he warrants it's completeness or accuracy and it should not be relied upon as such. Mr. Sinibaldi or ElliottWaveLive (collectively, referred to as “EWL”) are not under any obligation to update or correct any content provided on this website. Any statements and or opinions are subject to change without notice. The content and comments contained herein neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. 

A more and comprehensive Risk Disclaimer and Disclosure Statements is available within the left margin of this blogsite.   

======================================================================

Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article.