The market detective is a Chartered Market Technician (CMT). He uses technical analysis to identify market turning points and opportunities. He is primarily an Elliottician, he uses the Elliott wave principle and Fibonacci ratio analysis to uncover clues about the direction of the market. He uses other forms of technical analysis to corroborate his findings in such a way as to assign a probability factor to them.

1. 11/10/200810:31 PM
The main thing I want to point out this evening is the triple confluence zone of the .618
Fibonacci retracement level of the entire move from the low to 100850, the .618
Fibonacci extension of the move from C to 5, and the Fibonacci extension of the latest
move off the 20 period ma down from c.
This level held the first time it was tested on 11/06. The wave count down from c can be
either 3 or 5 waves. I put a higher probability on 3 based on the retracement level and the
probable support at the triple confluence zone (.618 is a common 5th wave extension).
Realize that the completion of 5 waves at this level (894) can be a completed 3 wave (5-
3-5) move down from C. We could turn back up.
If we slice right through this confluence zone, it means that we already completed 5
waves down from c and we are headed to 8725 or 8371 very short-term.

2. 11/10/200810:31 PM
TMD/DW
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