"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)

Tuesday, January 15, 2013

SPX - The time has come, break-out or drop down.

SPX spent another session with a sideways action without worrying that Pres. Obama will not negotiate debt and AAPL falls by 4%.
The main scenario and the alternate do not change; on intraday basis, it's possible to see a nice Cup with Handle pattern, but the breakout is needed today or the pattern has failed and a downward move becomes more likely.
Have a great trading day...with much care!!!


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