"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 28, 2013

SPX - Still an upward move

No top of wave y .
The potential reversal of the doji was denied by a fine white candle on daily basis.
Looking at the 15 minutes chart, the market seems to have created an ascending triangle, that could be count both as a second wave [x] that as Alt:[4] .
Consequently, both for the main scenario (updated with wave y still in progress) that for the alternative ( Alt: c in completion), today would be an upward session with the birth of wave [z] or Alt [5] .
Have a great trading day...with care!


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