"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, January 18, 2013

SPX - Close to a top of minor or minute degree

Finally the breakout, but with little conviction.
New counts, very different from the previous ones because I raised the degree of the waves to preserve "the right look".
Preferred scenario: it was reached a top of minor degree, wave y now it is starting the downward wave x .
First alternate scenario; we are still in the upward corrective wave Alt:y of y , so the top has yet to occur.
I think that, in the future, we will see a series of corrective waves , type complex,  with many overlaps.

Have a great trading day...with care!


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