"All human activities have three distinctive features: pattern, time and ratio - all of which observe the Fibonacci Summation Series" (R.N. Elliott - "Nature's Law - the Secret of the Universe" - 1946)

Saturday, December 3, 2011

S&P 500 - The up move is over, it's beginning a downward correction

The up wave is over; it may be a minute wave "a" of a zigzag (or wave "1" of an impulse move) but it's too soon to say that.

Wait for a complete downward correction (wave "b" or "2") where pattern, price, time, momentum and cycle overlap; this may be a possible turning point to open a long position.

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