"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)


Friday, September 28, 2012

SPX - The bottom expected has been achieved

I'm actually considering that the bottom of wave x was made Wednesday, as truncated or impulsive; looking at the chart at the right distance,  we can see how the index reacted a few points from Fibonacci price cluster and about two hours from the Fibonacci time cluster; these errors are very small and negligible.
If so, it would begin the final wave z of double zigzag of minor degree wave y.
Unfortunately, these considerations are of little importance now since I closed almost all long positions and rebuild the portfolio now becomes more difficult.

Have a great trading day...with care!

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