Elliott wave zigzag, double zigzag, Fibonacci extension, Fibonacci retracement, and corrective combination are profiled in this evening report by TheMarketDetective.com

1. 1/6/200910:30 PM Pacific
The S&P cash interpretation also includes an alternate zigzag / Flat combination that
could produce a different outcome than a completed double zigzag. In this case, price
has already completed half of the next zigzag (assumed). Here the retracement would be
measured against only the most recent wave up from c, and only one more wave up
would follow the retracement before completing a triple combination correction
(Zigzag/Flat/Zigzag). A triple combination is the limit for a corrective combination
pattern.
In this case a .500 Fibonacci retracement only goes to 900. You may recall that this is
also the .382 retracement level of the move up from X in the e-mini futures from earlier
today. I show it again below for easy reference and so that you may compare and contrast
the two options.
This alternate thesis also projects to the price zone projected in the intermediate-term
weekly forecast.

2. 1/6/200910:30 PM Pacific
I say that this is an alternate thesis, but it may only be an alternate context with which to
view the same price action. It is possible that both scenarios will play out with a good
part of the e-minis price action occurring after hours.
TMD/DW
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