"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, January 21, 2013

SPX - Always close to a top

The upside on Friday reversing my two main scenarios;
new preferred scenario: y wave is always in progress, close to a top of wave [w] with a double zig-zag w-x-y-x-z ; 
first alternate scenario: the market is close to a top of minor degree (alt:[y] of Alt y of Alt y);
second alternate scenario (not shown): 2°Alt:[3] of 2°Alt:c of an upward zig-zag of minor degree.

The level of a possible top is 1493 where there is the Fibonacci price projection of y = ( 100 * w + x )

Have a great trading day...with care!


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