Update on previously posted count

May 7, 2009

Recent price action has confirmed my statements from Monday, however a more traditional ending diagonal has formed.  The prediction from the previous count still stands, although with this slight alteration.  Of course, as with any count, price action needs to continue to confirm it.  One of the flaws with this count is that a running triangle would not be expected to precede a terminal pattern, but in real world counting few things align perfectly with preconceived notions.

5-7 qqqq wave count4:40 PM

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Email: trader_pro_FW@yahoo.com AIM: Traderpro88
My analysis utilizes fractal analysis, Fibonacci cycles, Fibonacci expansions, Fibonacci retracements, Market sentiment, and Elliott Wave analysis. I am constantly looking for new methodologies and ideas. I watch US stocks and indexes primarily. I hope you enjoy the site.
Fractal charts are not usual Elliott progress labels. These charts are intended to depict general repeating randomness, if you will. I will post Elliott Wave counts as well as fractals.

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