Elliott wave and Fibonacci analysis on 011209

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Information about Elliott wave and Fibonacci analysis on 011209
Finance

Published on February 6, 2009

Author: dewaggon

Source: slideshare.net

Description

Elliott wave zigzag, motive wave, counting waves, Fibonacci extension, Fibonacci retracement, and Google are profiled in this report by
TheMarketDetective.com

1/12/20098:31 AM GOOGLE remains the most optimistic indicator for a turn up sooner rather than later. I have previously written that the S&P has completed a double zigzag which is a completed Elliott wave pattern. I proposed that the pattern could extend up, and stated my bias was that it would. However, it is a completed pattern, and offers no indication in and of itself that it will extend up. GOOGLE on the other hand, which I have been tracking as a TELL recently shows more promise because the pattern up from the low favors a 5 wave motive set hinting that another 5 wave set will take us higher following a 3 wave retracement. If you align the two most probable support levels shown on this chart of GOOGLE for a turn back up with the probable support levels from the S&P e-minis and S&P cash charts from my previous report, the greatest confluence is at GOOGLE 305, S&P cash 871.

1/12/20098:31 AM The market detective provides personal market opinion based on sound technical analysis and research. However, no warranty is given or implied as to its true reliability. The market detective will make errors and mistakes. The market detective is not an investment adviser and is not making recommendations to buy, sell, or place orders relating to the futures contracts, ETFs, or stocks that he writes about. The responsibility for decisions made from information contained in this service are solely that of the individual subscriber. The individual must fully research and make his/her own decisions before acting on any information provided by the market detective. The market detective assumes no responsibility for subscriber investment or trading results.

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