SIRI 3/7/2013 – Important Update!


Please be aware, it does not appear that Sirius XM Radio (SIRI) is in a Wave 1 of a new motive wave.

 

On the prior SIRI update, I had mentioned that SIRI had just completed a 5 wave motive wave to the upside, as seen on it’s hourly chart.  It has, however this 5 wave motive wave does not appear to represent a new wave 1.  Remember, wave 1′s always subdivide into 5 wave motive waves.  Instead, it appears to represent a corrective wave b. Corrective B waves also can subdivide into a 5 wave motive wave.

 

As seen on the next chart, the 5 wave motive wave that started with the low of 2.55 and ended with a 3.25 print, appears to now be in the process of correcting.  Based on the Fibonacci ratio of up days to down days, SIRI has approximately 9 days left to complete corrective wave c.  There were 52 up days in waves 1-5, multiply that by .618% and you come up with approximately 32 days that should be down days.  As of March 7, 2013, we are on day 23 of the corrective wave (waves a-c).

 

SIRI 2013-03-07

 

 

When I had previously though that SIRI was forming a new wave 1, I had not calculated the Fibonacci ratio of up days to down days.  I am still working on the long term chart (SIRI from .05) to support why I think the $2.85 correction will happen before a $3.26 print.  Check back later for that update.

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