E*TRADE Financial Corporation is a financial services company, that provides online brokerage and related products and services primarily to individual retail investors.
A small trade has developed in ETFC. The trade on the one minute trading time frame is a little late to enter, but you could get a pullback. The technical levels are well defined in this trading time frame. The chart below is the 1 minute. Notice how ETFC traded to a low of 1.68 on September 24, 2009, traded to a high of 1.78, then tested the low before moving higher early on the following day of trading. Using a wave one magnitude of .09 cents, ETFC traded within .01 cents of its wave 3 calculated Elliott wave level of 1.89 on September 25, 2009. Currently we have tested the wave four Elliott wave level of 1.81 reaching 1.77 and closing at 1.82 today September 28, 2009. This 1 minute wave sequence can go lower to the 1.72 level but 1.71 is your sell stop. The possible trade in the one minute trading time frame would be to the Elliott wave five level of 2.01.
