GOOGL update 09/29

GOOGL: When price is not doing what it is “supposed” to do from a certain count POV, then we need to change our POV by re-analyzing the charts. Often, zooming out on the big picture helps. I pulled up a fresh weekly chart and simple started counting off the 2015 low all over again. The chart below shows this count. In essence; price is now in minor-5 of intermediate-iii of major-3 of Primary V.

googl weekly

The black Fib-lines show the ideal Fib-extension for the major waves. The thinner red ones are for the intermediate waves and the green are for the minor waves. Using overlap of these Fib-extensions, it appears the ideal target zone for all of intermediate-iii is $1110-$1140. This coincides with a 176.4-200.0% minor-wave and intermediate-ave extension as well as a 100% major wave extension. The weekly TIs are pointing back up, and the tight bollinger bands suggest a strong multi-week move is just around the corner. This would fit with a 3rd wave for this minor-5 wave.