January Commentary

Following up from a few months ago, I had made an analysis on Aastrom Biosciences Inc. At the time, it seemed like the price had already made it's peak and the thick red line stood like an overoptimistic target. This is another case for the value of Fibonacci numbers in target projection. The most difficult part to handle in this type of projection, is that they seem so far out we all discard them as improbable. The AlphOmega Highlighter selects the most probable projection out of the whole collection of Fibonacci projections. The formula is not a complicated algorithm, it is more a statistical selection from the possibilities born out of the waves configuration. The red dotted lines are retracement levels and help measuring the progress the price is making against the previous wave. The set of tools used by the Elliottist is incredibly accurate and improves over support and resistance levels alone.

                                                                      

Click on the image to enlarge.

I wish all my readers the best for year 2005. It should be full of opportunities for the wise.