Thursday, September 23, 2010

9/23/10 - Interesting Charts Update

Opt 2

Opt 3
I'd like to comment on Opt 3 for a quick sec. The blue Fibs are extensions of wave (A). Assuming wave (B) is complete, projecting from the top of (B), (C) =.618*(A) at 1021 and (C) = (A) at 942.

Now notice the Fib confluence at the 50% retracement of the entire rally since Mar 2009. It is nearly identical to the Fib extension of (A).

So if further selling is in the cards, this may be a level to keep an eye on.
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