Market analysis from TheMarketDetective.com that utilizes the Elliott wave principle and Fibonacci analysis.

1. 12/2/20081:32 PM Pacific
Here is the projected scenario from this morning with its targets back in vogue. To put
retracements in perspective, the early afternoon swoon erased a little more than 81% of
the previous wave up; an .810 retracement. Retracements that deep are difficult because
they shift the perspective of price direction for most traders (including me). Remember
that what happens on a micro scale can also happen on a larger level. Keep today in mind
if over the next day or so we approach the .810 retracement level on the 60 minute chart.

2. 12/2/20081:32 PM Pacific
TMD/DW
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