Baidu (BIDU) Daily Linear Scale -V-

Baidu seems to be going into “blow off” mode. Our target of 595 is
now less than 10% away, so in the “grand scheme of things,” we’re
getting very close to achieving an important Wave objective. Bulls and
Bears should now be on the lookout for a reversal candlestick. Some
kind of big shooting star top or gravestone doji would seem in order to
finish this kind of move. As a potential short-seller, there is no need to - III -
get in front of this freight train UNTIL it sports such a candlestick. (V)

- IV -

( III )
( IV )

-I- ( II )
(I)
Powerful Running
Double Combination?

- II -

Andy’s Technical Commentary__________________________________________________________________________________________________

 Baidu (BIDU) Daily Linear Scale -V-

I wonder if we get fractal similarity with a Wave -V- that looks like the
lesser degree Wave (V). If so, we should expect a “first extension”
impulse that will look like a “wedge.”

- III -
(V)
REPRINTED 2/27/2010

- IV -

( III )
( IV )

If the Wave -IV- concluded around 406, one possible target for the fifth wave would be 596. Out
of interest, I’ve also drawn the Elliott Wave channel (dashed blue) that would encompass the
“impulse.” Although, I’m not certain it is appropriate to even attempt an EW channel on a linear
-I- (I) ( II ) chart that covers this much price territory.

- II -

Andy’s Technical Commentary__________________________________________________________________________________________________

 [3] [5]
Ford (Daily)
(3) [4]
[1]

[2]

(4)

(1)

(2)
The last several days give the look of congestion that is presaging at
least one more new high. In the medium term, though, this sure does
look like a five wave move that is about to be completed.

Andy’s Technical Commentary__________________________________________________________________________________________________

 (5)
Ford ~ 180 min. [5]
[3]

(3) [4]
[5] [b]
[1]
REPRINTED 3/7/2010 [.b]
[d]

[.a]
[2]
[e]
(4)
[3]
[c]
[.c]
[a]
[1]
[4]

(1)
[2]

(2)

The (1) = (5) target is $13.48 for the wave up. The market should theoretically reverse around this
number. A maximum thrust target of 125% of the widest leg of the triangle would also peg the
conclusion around $13.48. The triangle Wave (4) appears to have concluded at $11.15, which makes
that level key support for bulls (longs). A reversal pattern into the mid $13’s should trigger red warning
lights for bulls. A break of $11.15 should be troubling….

-2-
alt:b

Andy’s Technical Commentary__________________________________________________________________________________________________

 S&P 500 (60 min.)
-X-
(Z)
“c” -y-
(c)?
1154

61.8% of -w- from

-w-’s conclusion

-w- (a)
(c) [5]
1112.3
[3]
(b)
[4]
(b)
[1]

[2]

(a)
1086
(c)
(a) -x-

(b) Not much has changed since the last update. This market must
reverse into the 1154 area according to this wave count. One
new development is the triangle formation that concluded at 1141.
Bulls who want to maintain long positions should now consider
1141 short term support, a break of which would signal a deeper
correction.
1044.5
a

Andy’s Technical Commentary__________________________________________________________________________________________________

 S&P 500 (60 min.)
-X-
(Z)
“c” -y-
1154 (c)?

61.8% of -w- from

-w-’s conclusion
(a)
-w- [5]

(c)
1112.3 [3] (b)
[4]
(b)
[1]

[2]

(a)
(a) 1086 REPRINTED 3/10/2010
(c)
-x-

(b) With 1140 being taken out, the next and last target for this
model is 1154. That level would be -w-=-y- and also an
(a)=(b) within -y-. This would produce a marginally higher
high on the S&P 500. One wonders if this is what the market
is going for: a new high that brings in a new wave buyers
before the actual conclusion?
1044.5
a

Andy’s Technical Commentary__________________________________________________________________________________________________

 Dollar Index (120 min)
Head Head

Left Shoulder
b?
Left Shoulder

Neckline?

a?
79.53
c?
KEY SUPPORT

We’ve been talking about 79.53 as a critical support area for several weeks now. It seems like
it’s now going to be vigorously tested as the recent whoosh lower does not look “completed.” If
this is an a=c coming down, the 79.35 is another target, so 79.3579.53 can be viewed as a
support zone. I’ve labeled the pattern above as an Head and Shoulders, but this pattern rarely
develops anymore. In other words, I don’t believe it, but will remain open to the possibility.
Perhaps we get a “neckline” break that convinces the armchair technicians to short this
market, right before we launch higher to complete the “d” wave? Some technicians may
already view the situation as a broken neckline.

Andy’s Technical Commentary__________________________________________________________________________________________________

 Dollar Index (240 min)
z of “d”
Dollar Bulls have had little to “fret over” the last few weeks. This market -c-?
seems to be congesting in a triangle type pattern while key support at
79.53 hasn’t been “sniffed” for awhile. It looks like we have another high y -a-
coming. However, the next new high could be a bull trap--the price
action on setting a new high will be crucial. Does it just slice through and
-g-
80.68
keep powering? Or, does it just poke to a new high and then reverse on
itself?

-b-?
-e-
79.53
x2? KEY SUPPORT
w -c-
-c-
-f-

-d- I have yet to see a legitimate “five wave” count for

-a- this move (y-wave) on the blogosphere, so I’ll
continue to call it a “correction” of some kind. If the
“diametric” labeling makes one queasy, then
consider it a “double.”
-b-
-a- 76.60

-b- x1

REPRINTED 3/10/2010

Andy’s Technical Commentary__________________________________________________________________________________________________

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