1/20/20099:34 PM Pacific




If you are watching the futures overnight I don’t think we will break 818/823 to the
upside i...
1/20/20099:34 PM Pacific
1/20/20099:34 PM Pacific


TMD/DW

The market detective provides personal market opinion based on sound technical analysis...
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Elliottwave and Fibonacci analysis on 012009

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Elliott wave zigzag, motive wave, corrective wave, counting waves, Fibonacci extension, Fibonacci retracement, Fibonacci confluence are profiled in this report by
TheMarketDetective.com

Published in: Economy & Finance
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Elliottwave and Fibonacci analysis on 012009

  1. 1. 1/20/20099:34 PM Pacific If you are watching the futures overnight I don’t think we will break 818/823 to the upside in order to complete wave 4 of the move down from c (866). Looking at the cash markets there is a major Fibonacci confluence just below for both the NASDAQ100 (1120) and the S&P500 (780). This level could present a turning point if this is a 5-3-5 wave down. For the NASDAQ100 this is the .618 retracement level, a common retracement level for corrective patterns to extend from. .810 on the S&P is less common but, a valid turning point to extend from nonetheless. In any case a bounce at this level is very probable and very telling if it doesn’t stick. If we cannot hold at these levels, the bias will shift to taking out the low and this being the 5th wave down in the larger thesis. In this scenario, the projections are quite horrific. I will cover these in the next report.
  2. 2. 1/20/20099:34 PM Pacific
  3. 3. 1/20/20099:34 PM Pacific TMD/DW The market detective provides personal market opinion based on sound technical analysis and research. However, no warranty is given or implied as to its true reliability. The market detective will make errors and mistakes. The market detective is not an investment adviser and is not making recommendations to buy, sell, or place orders relating to the futures contracts, ETFs, or stocks that he writes about. The responsibility for decisions made from information contained in this service are solely that of the individual subscriber. The individual must fully research and make his/her own decisions before acting on any information provided by the market detective. The market detective assumes no responsibility for subscriber investment or trading results.

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