"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)


Monday, July 30, 2012

SPX - More and more difficult...

Analysis was done proved wrong; the top of x minor wave has not already occurred.
I reserve some doubts on the new count.
Always out of the market until I understand something more.
Have a great trading day...with care!




l'analisi fatta si è rivelata sbagliata; il top di onda x minor non si è già verificato.
Riservo diversi dubbi sul nuovo conteggio.
Sempre fuori mercato finchè non ci capisco qualcosa di piu'
Buon trading...e prudenza!

Posted by at

2 comments:

  1. Mason MJuly 30, 2012 at 8:39 AM

    Are we getting near the top of X? What's the outlook for say the next 2 weeks? Thanks and nice post.

    ReplyDelete
  2. ElwavesurferJuly 30, 2012 at 9:25 AM

    Hi Mason M,
    Yes, I think that we are near the top of X (as reported on the hourly chart and not as I erroneously reported in the 10 minutes that I corrected, thanks)
    For the second time this year I'm very confused for a period exceeding 5 consecutive days. A rising channel is generally bearish but when it is broken upward push hard.
    For the next two weeks, the market could also test the tops,but with this picture I am willing to bet a lot (:-)), there are too many alternative scenarios still valid.
    Hello and see you soon

    ReplyDelete

Note: Only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)