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.
Wednesday, February 11, 2009
Major Decline Phase Underway, 5 Waves Down Will Confirm It; Feb. 11, 2009
Can't talk long, but with the major selloff yesterday and most of the government nonsense out of the way, the market is now free to fall. Still waiting on a 5 wave decline which appears imminent, as well as a break of a trendline formed from the entire rally established at the 740 bottom (note blue ascending trendline in the 30min S&P futures chart above). 740 in the S&P cash is the first and minimum target.
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