Short Term Trading Member Forum

[techcharter]

UTX e-wave analysis

See link for chart accompanying narrative:

Short Term:

http://stockcharts.com/def/servlet/SC.web?c=UTX,uu[w,a]dacayyay[dc][pd20,2!b200!f][vc60][iLp14,3,3!L...

Long Term:

http://stockcharts.com/def/servlet/SC.web?c=UTX,uu[w,a]wacayyay[df][pd20,2!b200!f][vc60][iLp14,3,3!L...

UTX is in a wave 3 of 3 of 1. The Wave 3 downside target is the $62 area. This is a fib ratio of Wave 1 from the top AND where area the Wave 4 triangle traded around prior to the ending Wave 5 to the top. Wave 3 of 3 has most likely downside target of $71. This is where the fib ratio of wave 1 of 3 AND 200 weekly moving average meet. The daily stochastics indicate a very overbought condition. MACD rising trend is deceleration, indicating momentum is waning.

There may be one more push higher of 75c since the fib retracement for wave 2 of 3 is $86.48 but the high so far is $86.15. Friday closing price is $85.75.

Sorry about the columns being jumbled, but this msg board editor wasn't made for cut/pasting spreadsheet info.

Fib Ratio Price move Beg/End Price
Begin Wave 1 97.84
End Wave 1 83.5
Tot Wave 1 14.34

Begin Wave 2 83.5 Bounced off 200 DMA
End target 1 0.5 7.17 90.67
End target 2 0.612 8.77608 92.27608 91.32 High

Begin Wave 3 90.07
End target 1 1.618 23.20212 66.86788
End target 2 2 28.68 61.39
End target 3 2.618 37.54212 52.52788

Begin Wave 13 90.07
End Wave 13 80.67
Tot Wave 13 9.4

Begin Wave 23 80.67 Retest 200 Daily MA
End target 1 0.5 4.7 85.37
End target 2 0.618 5.8092 86.4792 86.15 high

Begin Wave 33 86.15
End Target 1 1.618 15.2092 74.8608
End Target 2 2 18.8 71.27 Near 200 Weekly MA
End Target 3 2.618 24.6092 65.4608