Glenn Neely - NEoWave - EURO Indian Stock Markets

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Glenn Neely - NEoWave - EURO Indian Stock Markets Powered By Docstoc
					Wednesday, January 6, 2010                                                                                   Visit us at:

                                                                                                              Edited by Glenn Neely
                                                                                                              President NEoWave, Inc.
                                                                                                              Information contained herein is believed to be
                                                                                                              reliable, but the publisher cannot be held liable
                                                                                                              for errors or omissions. No specific advice can

                                                                                       EURO                   be construed from the following. The reader is
                                                                                                              solely responsible for all action taken.

DAILY Plot (released mid-day on M-W-F)                                                                       Symbol EC or FXE

                                                                                                               HOURLY Trades (for Futures markets)

                                                                                                               The Euro continues to closely track the
                                                                                                               red-dashed projection line placed there
                                                                                                               many weeks ago. Unfortunately, that
                                                                                                               fact does not provide us with any
                                                                                                               concrete trading parameters. Neely
                                                                                                               River is also not suggesting any
                                                                                                               possible entries, but it does indicate the
                                                                                                               current trend is up. Since that conflicts
                                                                                                               with an ongoing a-wave, let’s stay out.

                                                                                                               Current STOP:

                                                                                                               Current Risk:

                                                                                                               DAILY Trades (for Futures markets)

                                                                                                                   * No change since last update *
                                                                                                               On the chart I assume wave-D will form
                                                                                                               a Flat. That is based on the rule of
                                                                                                               alternation and making sure wave-D is
                                                                                                               different from wave-B in structure,
                                                                                                               price, time, complexity, etc. The red-
                                                                                                               dashed line considers all requirements
                                                                                                               and suggests wave-D will become a
                                                                                                               Flat in which the current move is just
                                                                                                               wave-a of that Flat. Stay out.

                                                                                                               Current STOP:

                                                                                                               Current Risk:

                                                                                                               WEEKLY Trades (for the FXE ETF)

                                                                                                                   * No change since last update *
                                                                                                               If the Euro continues lower the net
                                                                                                               week or two, there is a chance we will
 Current EURO Positions                    NEELY RIVER Technology                                              have a low-risk, buying opportunity in
                                                                                                               the 1.3800 range. It is premature to
Hourly                                     Hourly BULLISH                                                      enter orders based on that assumption,
Futures                                    Futures Perspective May Change at 1.4255 Mar.                       but given another week or two, we
Daily                                      Daily   NEUTRAL                                                     might have reason to try. Stay out.
Futures                                    Futures Perspective May Change at 1.4656 Mar.
                                                                                                               Current STOP:
Weekly                                     Weekly      NEUTRAL
ETF                                        ETF         Perspective May Change at 145.70 FXE                    Current Risk:

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