Update for Wednesday March 11, 2015 Premarket

DJI, SPY, IWM all completed 5 sub steps of the First leg down from the peak in December. We should have a  small rally here  but it will not go to highs established in December.

NASDAQ also completed 5 sub steps of the First leg down and we  could have a nice  to  recent highs  set up  7 trading day ago in Leg 2 Up. After that we should have a much bigger decline in Leg 3 DOWN.
Oil will continue to go down to below $40 per barrel with rallies in between.

Euro made a 12 year low today and  US Dollar Index went to 99.36 which is the highest in 12 years.
We have a deflation problem around the world and currencies in many under developed countries like
Brazil, Russia, Ukraine, Iran and  Venezuela etc are being crushed causing more instability. So many people are bullish on Dollar and bearish on Euro that this trend can reverse anytime. Eventually Euro will go to parity with Dollar

Chinese market and Russian markets keep on going down and will go down much more. Japanese currency also went above 121 Yen to the dollar . Euro zone and Japan are having great advantage against US exporters and it will show up in earnings  for the first and second quarters and US market is also heading much lower after current rally is over.
Natural Gas is going lower with warm weather around the corner. Many companies in oil  and Gas exploration are in so much trouble that they are selling Natural Gas at any price they can get. This is why our Natural Gas Motif consisting of DGAZ  continues to go higher with consolidation yesterday.



DJI

SPY

QQQ  90 Minute Chart. May have completed 5 small steps down . Ready for a rally

IWM

TNA

UVXY Any rally now in SPY will lower UVXY but soon it will have a BUY signal and then it will move up sharply.  No Buy signal yet

 DGAZ   Ready to Go Up Again To New Highs

ERX   Going Down as Oil drops to $40 or even lower

ERY  Continues to Go Up as Oil Goes down

GLD  Continues to go down as Gold goes down

GDX  Gold Miners Going Down As Gold goes down

 NUGT   Continues to Go Down

 DUST  Continues to Go Up as Gold goes Down

RSX  Continues to go down as Oil Goes down

RUSS 3X Inverse  Russian Market Going Up as Oil Goes Down

  YINN Chinese 3X Bull going Down as China Slows Down

Chines 3X Bear Going Up as China Slows Down