FB, GOOGLE updates 05/31

FB: trucking along real nice here in this 3-wave impulse up. I modified the wave count by one-degree by place the (grey) minute-iii and iv at the early- and late-May lows instead of my original minor-3 and 4. Now (orange) micro-3 of minute-v of (green) minor-3 of (red) intermediate-iii of (black) major-5 is underway. As the waves keep extending, we need to move the targets for the Fib-extensions higher. The 161.80% has already been surpassed and it’s likely that minor-3 targets the 200% and intermediate-iii the 238.2% or even higher. All my systems from daily to weekly are on buy/long, the TIs are long and strong, there’s no negative divergences, and that’s all there is to it.

FB daily

fb weekly


GOOGL: Like FB it is rallying hard today and the 1,2,i,ii count is gaining traction. The TIs are pointing back up and all my systems turned back to buy today. Based on the weekly chart, I still see a price target of ~$1370 for major-3 of Primary V. The weekly chart also shows a possible bullish triangle is forming off the late-March lows with a weekly close above $1105 targeting $1225.

GOOGL daily

googl weekly