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, January 5, 2009
Market Falls, But There's Still Underlying Strength; Jan. 5, 2009
The market is down today with the Dow leading the way with the biggest losses. However NYSE breadth is actually positive with more up volume than down volume and the advancers outpace the decliners. This is bullish. Plus, several sectors are actually up today with energy being the biggest gainer. So as it stands now, this does not look like any significant declining phase beginning, but rather just a pause in the uptrend towards the 950-1000 area.
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1 comment:
I hope the S&P stay under 945 this week. :)
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