"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, November 5, 2012

SPX - The last bearish wave has started

What I expected has occurred, with the full coincidence of my first 2 Elliott Wave counts.
According to my main scenario, the rebound is finished right on Fibonacci retracement of 50%, with an irregular a-b-c where wave c has a clear structure in 5 impulse wave, so Friday has started the last bearish wave [c].
My first alternative scenario considers the rebound like a bull wave [1] and now the market is in wave [2]  (this scenario is invalid under 1403)
Have a great trading day...with care!

1 comment:

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