"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)

Saturday, February 2, 2013

Elliott wave analysis of NDX

NDX is the weakest of the U.S. stock market indexes (also due to the Apple's collapse), the others are very close to their tops (and RUT has already exceeded them).

Long-term view.
Preferred scenario:
NDX has not yet reached the top of this Cycle Bear Market rally (wave B) that could be in 3300-3400 area where there is a new Fibonacci price cluster.
First alternate scenario:
the top has occured September 21, 2012 at 2878, where these was the first Fibonacci price cluster.

Short-term view.
Preferred count: NDX is in wave [iii] of 1 of 5
First alternate count: we are in Alt:b/x of wave 4

Have a great weekend!


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