I’ll try to post that and the Dow as well. I’m just focused on the S&P as it enters significant confluence.

The recent action off last week’s low does look like a 5-wave advance, doesn’t it? It could be part of the A wave of a Zig-Zag (a zig-zag has A with 5 waves; B with 3 waves; and C with 5 waves). In fact, we would expect a Zig-Zag because Wave 2 was a Flat (ABC).

It just seems to ‘feel’ like the bottom isn’t in place yet but it could certainly be in place. I’m just not ready to call this a bottom yet – the structure seems to indicate that we get at least a test of the lows.

Welcome to the world of trading! Fibonacci is traditionally more of an advanced concept but if it speaks to your mathematical/analytical background, it’s absolutely worth looking into. Feel free to email/contact me with questions.

I’m actually working on doing a Fibonacci primer when my new website launches. It’s NOT ready yet, but you can get a sneak peek at:

http://www.afraidtotrade.com/fibonacci

Corey

I found your site through a post on marketwatch.com. I am a newbie buy and hold investor who is dabbling in the market for the first time ever.

My intuition has served me well so far but your Fibonacci analyses provides a mathematical framework to understand swings and sentiments. Very intersting stuff.

A suggestion – can you post links to educational material on Fibonacci on this site? Some tutorials – if you have the time – and a glossary will be mighty helpful to folks like me who are wrestling with the basics.

Thanks and keep up the good work.

Genghiz
CA

The 3-Push is a reversal pattern that plays off a multi-swing momentum divergence. Each successive up-swing forms on lower momentum.

Here’s a peek at an educational page I’m working on:

http://tinyurl.com/cu4482

We could get flags off this level.

It’s a 16 period average of the difference between the 3 and 10 simple moving average – it serves as a ‘trend’ function (or smoothing function).

It roughly correlates with price being above (or below) the 20 EMA.