AKS Update #3

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May 30th, 2009

The third wave of one larger degree was the correct interpretation for AKS. Although its wave 2 did go much further down than what I had expected. The minimum target has been met and the next target has been lowered from 18.53 down to 17.63.

FXC Update

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May 30, 2009

My last post on the CAD I was calling for a rally up to 0.90USD. What I suspected to be wave 2 ended up being the final leg down for the decline. Amazingly, my Fibonacci target of 0.90 ended up being fulfilled even though the wave count was incorrect. June 30- July 7 are the important T+P confluence dates. Again on July,22 and 23 important time and price confluence dates arise. As for the rally, $97.19 remains the Fibonacci target, or 1.02 USD/CAD. A significant pullback in the CAD is expected from this level. At this time it is expected that this pullback would be corrective in nature and the longer term target for the CAD would be well above par with the USD.

ARE Update

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May 30, 2009

Similar to AYE, ARE did not have wave 3 of one larger degree. There was however a $10 rally off of the Fibonacci inflection level. This rally failed to break above previous highs and was soon retraced.

AYE Update

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May 30, 2009

AYE did not have wave 3 of one larger degree. Its wave structured turned out to be corrective in nature. Following the Fibonacci inflection level, there was a minor $4 rally but it did not break out to new highs. In my posting, "Volume Characteristics Very Bullish"; I noted that this rally would not be broad based. I overlooked the cyclical nature of the market. Commodities and commodity related equities would begin rallying during the later stages of a bull market. Since the bull was in its infant stages during the recommendation, it was simply too early to buy a stock like AYE.

Google Inc Update

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May 30, 2009

The original forecasted wave 3 turned out to be a corrective elongated B wave. Wave 3 is targeted to end at $424.32. Price and time confluence for GOOG is as follows: June 9, June 17, and June 23 X 2. Price action surrounding June 23 is more important the the other days due to a higher number of P+T confluence.

Update of "Volume Characteristics Very Bullish"

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May 30, 09

In a previous post I gave forecasts for the following symbols:

1) NYX

2) GOOG

3) AYE

4) ARE

5) FXC

6) AKS

7) AAPL

Today I will update these original forecasts with the exclusion of AAPL. The AAPL update has already been posted due to the trade recommendation occurring on a small time frame.

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NYX- Original forecast was given Nov 17,08 on a video which can be viewed on youtube by going to http://www.youtube.com/watch?v=14XTZvlZEVU NYX commentary begins at 4:37 into the video. The original price recommendation was purely based on Fibonacci price levels. Price came up short of the original target but the rally up to $30 still occurred. This rally created a perfect 5 wave sequence.The analytical work was updated Jan 21,09 with the development of this Elliott Wave pattern which indicated the Fibonacci inflection level at price $15.62 did not have to be met prior to the stock having a significant rally. Wave 3 of one larger degree implied that the $16.33 (11/21/08) low should remain the ultimate low and price should begin a marvelous rally up to $34.32 or $40.01. Subsequent price action shows that price broke below the hypothesized wave 1 low thus negating the wave structure. Price traveled to a low of $14.52 on March,06,09 ($1.10 below the Nov 17th, 08 price) and has since risen up 206% or +$15.48 to close the week at an even $30.