"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 30, 2013

SPX - RED ZONE

Yesterday the market has made the expected breakout of the ascending triangle pattern labeled [x] or Alt [4] wave, which represent the preferred scenario and the first alternative, and at the same time, has invalidated the second alternate count.
SPX may have reached the top of the wave  a/1 of [z] of y , and seems that the uptrend has not yet exhausted.
However, we are less than 5% from the TOP, and I do not know how much fuel still has the market to continue its ascent without stopping to rest.
We are entering in the RED ZONE , that is an area of high-risk loss and low probability of gain.
 
Have a great trading day...with care!!!

ElwaveSurfer


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