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.
Monday, December 15, 2008
A-B-C down SO FAR; Dec. 15, 2008
Above is a 5min chart of the Nasdaq 100 showing what appears to be an ABC down so far. A break below the lows of today will make it a 5 wave drop and warn of further losses after a brief rally.
2 comments:
Anonymous
said...
what will happen if the downside volume keep going down while the nasdaq is trying to cross over the s&p?
I think that volume indicator lags a bit so keep that in mind. I would look at the Nasdaq as a leader, and if it crosses to the upside, volume, advancers, and the S&P and Dow should all follow to the upside. With this recent little sell off, the Dow and S&P made new lows on the day but the Nasdaqs did not. This little non-confirmation is bullish as long as it holds.
2 comments:
what will happen if the downside volume keep going down while the nasdaq is trying to cross over the s&p?
I think that volume indicator lags a bit so keep that in mind. I would look at the Nasdaq as a leader, and if it crosses to the upside, volume, advancers, and the S&P and Dow should all follow to the upside. With this recent little sell off, the Dow and S&P made new lows on the day but the Nasdaqs did not. This little non-confirmation is bullish as long as it holds.
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