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.
Friday, March 20, 2009
Silver Structure Now Unclear After Fed Manipulation; March 19, 2009
Silver and gold's rally messed up a what was a perfectly unfolding EWP wave count suggest serious downside potential for the metals. The rally was too big too strong and too fast and I was stopped out of half my positions. If silver and gold are going to collapse as expected, then we can label the rally the other day as a wave C of a flat correction, but this means they should both top and reverse to the downside immediatetly.
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