"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)
Wednesday, January 23, 2013
SPX - Only a top of minuette degree
We are near atop ofminuettedegree labeled [w].
The intersection between theup-trendline(yellowdashed line)andthe 100% Fibonaccipriceextension (red dashed line) should be a resistance to the upward move but does not mean that a conservative trader should open a short position. The overshoot in accelerationof 1493makes it good a second alternate count: the wave 3 of  of c of an upward zig-zag a-b-c .