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Applied Complexity Analysis - NYB



Note: the following analysis is formulated as an assimilation of Fibonacci, DeMark, Elliott Wave and other technical indicators. It is offered as education and not intended as advice in any way.

New York Community Bancorp (NYB) looks like it is approaching an important low from which a significant multi-month bounce is a strong probability. With divergences in momentum, daily and weekly Demark exhaustion indicators, and a potentially complete wave pattern off those March 2004 peaks, NYB is showing a significant number of the bottoming indicators we look for around important bottoms.

If our short term analysis is correct, an ending wedge-like 5th wave has nearly completed, starting from the September 2004 peaks to the present, with nicely overlapping action consistent with the idea that sellers are becoming exhausted and a potential bifurcation point may reside below $17. We are looking for one more new low beneath $17 in the next few weeks to meet the minimum conditions for the bifurcation point we are looking for (not advice). $16.65 is one potential Fibonacci target for a low, which also represents an important support trendline. Our preliminary time target for this low is between April 1st and April 15th.

For now we will watch how prices decline from current levels to get a better sense of both timing and price targets as well as to determine appropriate risk parameters. Stay tuned.

Please note: We are now able to offer our proprietary complexity model analysis on both stocks and/or stock indices as a daily service to institutional investors and a select number of individual investors. There are several different services available; each are provided on a monthly subscription basis and cover all U.S. indices and all U.S. stocks. Please contact us for details and rates.

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No positions in stocks mentioned.

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