Fibonacci Footprints in an Elliott Wave Corrective Pattern

This is a snap shot of a probable Elliott  wave impulse pattern down from 1174.75 in the S&P500 E-Minis followed by an Elliott wave a-b-c correction pattern since the 1036 low.  The corrective pattern has near perfect Fibonacci footprints all over it.  Based on this interpretation, the down trend could resume today or tomorrow.   


Right click on chart  (view image) to enlarge


Posted by TheMarketDetective at 6/16/2010 10:51 AM
Categories: Fibonacci, technical Analysis, Elliott wave
Tags: Fibonacci impulse a-b-c correction E-MINIS .618 Elliott wave
 

What did you think of this article?




Trackbacks
Trackback specific URL for this post
  • No trackbacks exist for this post.
Comments
  • No comments exist for this post.
Leave a comment

Submitted comments are subject to moderation before being displayed.

 Enter the above security code (required)

 Name

 Email (will not be published)

 Website

Your comment is 0 characters limited to 3000 characters.