KATE, SBUX update 3/7

KATE: Price hit the 1.236x extension of intermediate i, from ii, which is a typical 3 of 3 Fib-extension. We now expect minor 4 to drop to around $21.65: that’s the (red) 0.764x extension AND the 38.2% retrace of all of minor 3 (measured from minor 2). Then price should go back up to target the (red) 1.618x extension for intermediate iii. Although this is predicting using text-book wave-behaviour, and that’s not always the reality; we can say “so far so good”. A minute b bounce should start from around $22.90 and travel to $23.70, from where ideally a c=1.618x a wave takes price exactly to the $21.66 target.

kate

***********************************************************************

SBUX: Did intermediate-i recently top? Intermediate ii now underway? Ideal targetzone is $56.20-$55.20; with solid support right at the 50% retrace ($55.69). Break below $52.52 (possible major 2 low) tells us SBUX has topped longer term. Break above the red “i?” top means intermediate iii of major 3 of Primary V is underway.

sbux