Actually, it should be “Listless all over the planet…” Clearly, yesterday was always going to be a quiet day and now that we’re at the end of the week, that listlessness is going to make for another long day of screen watching, drinking beer and watching those funny little flashing numbers go in and out of focus…
Basically we’re in a temporary corrective phase that has a modestly wide range. In some pairs we may see overlap but probably only in a complex correction – a triangle or in the right position - an expanded flat or flat correction. Therefore, it’s going to be important that the boundaries of any of the expanded flats are known. However, I don’t think we’re going to see much of that – only a few of the pairs are in that position.
Thus, the majority look like being basic corrections – either a zigzag, double zigzag or triple three – and no doubt in the expected listless market, this could see complex Wave b’s and/or complex Wave x’s. So yes, you can guess that it could be quite treacherous so do please take care.
So, there’s a not a lot of constructive expectation today. Take care and keep to short term trades.