Whatever happened to social media as of late?! YELP, ZNGA, etc. all felt unloved. ZNGA in particular plummeted 6% as the rest of the market rebounded in earnest. Even AAPL, the biggest loser yesterday, came back with a vengeance, scoring the best one day rally ever (I took this from a stream, didn't double check the fact). I took a close look at the ZNGA charts just now. It seems a bounce could be near. Take a look at coincidental targets in the daily and the 60 minute charts below.
The 60 minute chart shows an orderly down trend (not good) with the measured rectangle targets met in succession. Today it went slightly below, but continues to bug the lower trend line of the channel. Now take a look at the symmetry of the larger rectangle based on the 10 day range between 3/21/12 and 4/3/12. The target is 9.90 and the targeted time frame is within 1 day away. This target and time frame are fitting well with the daily chart as well, with Fib 76.4 target at 9.84 (see the circled area on the daily chart). That's just 6 cents off the 60 minute target. One has to be in awe with the mathematical precision orchestrated by the market.
Note: Tradestation does not allow me to move the 2nd rectangle beyond where I put it, but if you'd mentally nudge it to the right by the margin of the overlap, or just count 1 more day, you'd see how the target just magically lines up with the time symmetry.