"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)

Tuesday, November 6, 2012

SPX - Close to a critical point.

My two scenarios are still both correct; it is clear that one is wrong, but now there is no evidence to say which.
Preferred count: yesterday wave 1 of [c] is finished, now buonce in wave 2 ;
1st Alternate count; yesterday wave [2] is ended, like an a-b-c zig-zag pattern with elongated c wave, and today continues the upward wave 1 of [3] .
In conclusion, my expectations for today are for an up move.
I think the Election will set the trend of short and medium term.
Have a great trading day...with care!

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