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.
Tuesday, August 12, 2008
August 12, 2008; Big Picture
In light of Diver's comments to keep an eye on the big picture I thought I'd do just that and post a chart of the big picture. We're waiting for the wave 2 of (3) rally to end which will give way to a wave 3 of (3) decline that will destroy the market. It should shave at least 2,500+ points off the Dow, and do it in just a matter of weeks probably. This can occur any day now, but most likely not for another week or so. I'm agressively short............and waiting.
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