This Elliott Wave blog is dedicated to sharing Fibonacci ratios and other technical analysis for forex signals, index futures signals, options signals, and stock signals. Elliott Wave Principle puts forth that people move in predictive patterns, called waves. Identify the wave counts, and you can predict the market.
Friday, August 1, 2008
August 1, 2008; 4th Wave is a Flat
Attached is the original S&P chart I posted earlier calling for a small 4th wave which should result in sideways movement most of the trading day. This has appeared to have been correct. Below that chart is the updated 3 minute chart showing the details of an almost text book "flat correction", which is common for 4th waves. If this wave count is correct, then we should be headed for a new low on the day very soon.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment