FB, GOOGL update July 28

FB: still stick in that pesky ending triangle formation and hit right in our ideal target zone for all of wave e ($127-$130). Of course wave e can still subdivide like wave c, so we’ll have to wait and see, but the daily candle today was certainly ugly and suggests more selling than buying.

fb weekly

On the daily chart, our A.I buy/sell indicator turned into sell.It will be very interesting to see what price will do over the next few days.



GOOGL: beat on earnings and is probably going to break to new ATHs on Friday. This strongly suggests Primary V is underway. The weekly chart below shows that Primary IV didn’t quite get to our ideal 23.6-38.2% retrace, and that a (yellow) bull flag has formed. A primary V=I (blue) and the bulllag both target to around the 276.4% extension of Primary I, from II: around $1000.


If we look at more detail to the daily chart we can see how a perfect 3 waves down from the ATH (Primary III) developed and how major c fell just short of the length of major a.