Elliott and Fibonacci Patterns: SPX - Waiting for a true breakout

Monday, January 14, 2013

SPX - Waiting for a true breakout

Friday's movement doesn't change my preferred and alternative scenarios described in my post of January 11, which I fully reference.
I'm waiting for a true bullish breakout, even if the pattern doesn't convince me.
Have a great trading day...with much care!!!

ElwaveSurfer

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When the pattern of a reliable average is favorable under The Wave Principle, follow the recommendations below:
A) Select the groups which perform in harmony with the average;
B) Then select stocks that move in sympathy with these groups;
C) Always choose stocks that are constantly active, medium priced and seasoned leaders;
D) Diversify your funds; i.e., employ more or less an equal number of dollars in from five to ten stocks, not more
than one stock of a group. Trading in less than five stocks is preferable to more than ten stocks.
(R.N. Elliott - Educational Bullettin December 1939)

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Monday, January 14, 2013

SPX - Waiting for a true breakout

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