"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 29, 2013

SPX - Waiting for a top

The hypothesis of an ascending triangle has not been confirmed by the market movement, however the last two scenarios described yesterday remain valid.
I added my second alternative scenario, instead, and it is bearish and provides for the possibility that is forming an ending diagonal 2Alt:[z] of 2Alt: y
I remain underweight in my US Stock portfolio; yesterday some leading stocks (DDD, SSYS) have collapsed with a heavy sell-off on huge volume.
This is another signal that deserves attention; a top of minute degree is not so far.

Have a great trading day...with care!!!


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