Artificial Stock Price Support in ActionAn analyst at CNBC pointed out this strange stock price pattern today in three blue chip stocks, IBM, Coca Cola and McDonalds.
Normally stocks follow a Fibonacci wave form (also called Elliot waves). These are sawtooth wave forms in the markets indicating machine trading on the hour and every hour. Sawtooth wave forms are found in digial electronics, and its weird to see them mirrored in the stock market. Some single individual or group is doing this strange buying behavior. This is not normal crowd dynamics at work.