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.
Thursday, August 7, 2008
August 7, 2008; S&P 15 Minute Chart Possible Count
Attached is a possible count for the S&P on the 15 minute chart which has an A-B-C correction complete now, or will be complete at around the 1320 level, before giving way to the big wave 3 of (3) down. The reason I'm not extremely confident in this count is because of the structure of the B wave. It looks like an impulse wave. Wave B's are can't be impulse waves. But this still should be looked at as a possibility.
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