Thursday, September 6, 2012
EUR/CHF ~ Update ~ 6 September 2012
Exactly one year ago the Swiss National Bank (SNB) decided to peg the CHF to the EUR:
One year later the minimum rate at 1.20 still holds as the SNB doubled its foreign exchange reserves to 400 bln.
While this increase is worrying, I doubt that the SNB will stop buying EUR anytime soon. The Swiss economy isn't spared from the problems in the EU. It's not as bad as in the EU as the unemployment rate is still low at 2.9% and the GDP only started to decrease in the most recent quarter (-0.1%). But I still doubt that the SNB will put even more pressure on the economy anytime soon.
One year later the minimum rate at 1.20 still holds as the SNB doubled its foreign exchange reserves to 400 bln.
While this increase is worrying, I doubt that the SNB will stop buying EUR anytime soon. The Swiss economy isn't spared from the problems in the EU. It's not as bad as in the EU as the unemployment rate is still low at 2.9% and the GDP only started to decrease in the most recent quarter (-0.1%). But I still doubt that the SNB will put even more pressure on the economy anytime soon.
Wednesday, September 5, 2012
EW counts on one page
I added a new page where I list my latest EW counts.
So, instead of searching my blog for the latest counts you can now click on "EW-Counts" in the navigation bar above and then you see all counts on one page.
(At the moment, there are only a few counts. But by the end of this week there should be many more)
So, instead of searching my blog for the latest counts you can now click on "EW-Counts" in the navigation bar above and then you see all counts on one page.
(At the moment, there are only a few counts. But by the end of this week there should be many more)
Elliott Wave Counts
On this page you'll find my latest Elliott Wave Counts:
S&P 500
Short-term:
(image)
Medium-term:
Long-term:
Dow Jones
Short-term:
Medium-term:
Long-term:
Gold
Silver
S&P 500
Short-term:
(image)
Medium-term:
Long-term:
Dow Jones
Short-term:
Medium-term:
Long-term:
Gold
Silver
Dow Jones ~ Intraday Update ~ 5 September 2012
Below is a possible bearish count (for the Dow but it also works for the SPX):
At the moment, I'd slightly prefer the bullish over the bearish count (because of the election cycle). But as you can see in the charts, I'd like to see a break of 13200/1416 or 12800/1375 first.
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