11/30/20089:03 PM Pacific

Here is a detailed 60 minute wave count of GOOGLE that supports a small push higher before a retracement. I am showing wave (4) as a Flat corrective pattern. It is possible that b is wave (5)5, but the Fibonacci confluence of .618 extensions up from 4 and (4) and a round number (300) may be enough to pull price a bit higher.

The 60 minute cash S&P looks like an incomplete pattern up from (4) to me. There is also a .618 Fibonacci confluence of 4 and (4) overhead at 914. I like this target better than the futures target in the last report. Ditto the target indicated below in the cash NDX of 1210. Both of these cash index targets align with the GOOGLE target.

11/30/20089:03 PM Pacific

11/30/20089:03 PM Pacific

I am looking for a .500 or .618 retracement following this small push higher. We don’t have to hit these targets before retracing, but these are good symmetrical targets and the market prefers symmetry. TMD/DW The market detective provides personal market opinion based on sound technical analysis and research. However, no warranty is given or implied as to its true reliability. The market detective will make errors and mistakes. The market detective is not an investment adviser and is not making recommendations to buy, sell, or place orders relating to the futures contracts, ETFs, or stocks that he writes about. The responsibility for decisions made from information contained in this service are solely that of the individual subscriber. The individual must fully research and make his/her own decisions before acting on any information provided by the market detective. The market detective assumes no responsibility for subscriber investment or trading results.