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Applied Complexity Analysis: Citigroup


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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.

We are updating our March 3rd note on Citigroup (C) as the upward correction has matured and is reaching a point of important Fibonacci price and time resistances. Specifically, the impulsive decline from February 7th to February 28th has now, in a corrective, 3 wave pattern, moved into important Fibonacci resistance in the $48.51 - $49.10 area and is now within the time window in which we would begin looking for an important peak: March 8th to March 13th.

The very short term looks like it needs one more new swing peak above the $48.68 peak registered last Friday to complete the bounce off the February 28th lows. That move looks like it could complete today. As such the aggressive interpretation calls for weakness in this stock on one more new peak with trade moving through $49.60 forcing us to the sideline (not advice).

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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