"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, February 4, 2013

SPX - The alternative scenario prevails

Friday, with a strong bullish move,  the old alternate count  has definitely surpassed the previous preferred count, that's was invalidated.
Now, the new main scenario always includes a wave y of minor degree in progress, but it takes the structure of an upward zig-zag a-b-c , where wave c is in wave [5] .
However, an issue deserves attention: this intermediate wave (z) in progress could not be a simple complex w-x-y but a double complex w-x-y-x-z , so the tops could be reached after a pullback in wave x .
Have a great trading day...with care!


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