"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)

Wednesday, October 10, 2012

SPX - From up to neutral trend

Yesterday bad day.
I thought at least in a pullback of 0.5%, however, the index lost 1%.
This bearish acceleration changes the outlook; the trend changes from up to neutral and less likely that 26 September bottom is a key turning point.
If today the market does not recover the scenario worsens considerably.
Have a great trading day...with care!

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