Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
Tuesday, August 11, 2009
Fibonacci Everywhere
The wave structure from the 1018 high so far is exhibiting several Fibonacci ratios.
Wave (ii) retraced wave (i) 38.2%
Wave ii/iii retraced wave i/iii 61.8%
Wave iv/iii retraced wave iii/iii 38.2%
Wave iii/iii is 1.618 x wave i/iii
Wave c of is 1.619 x wave a. Wave c is part of wave iv/iii
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