"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, December 14, 2012

SPX - Correction in progress

Yesterday there was the decline expected but too deep, and the breakdown of 1418 changes the main scenario;
take over the hypotheses that the last top complete a w-x-y of minute degree, and the downward move from 1438  is a 5 wave sequence  to complete the wave [a] of zig-zag x .
Today should start the bounce of [b] wave.
Alternative scenario: the downside is more extensive both in time and in price because the last top closes a minor wave W and began the wave X .
 Have a great trading day...with care!


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