"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!


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

  2. 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