"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)


Thursday, February 14, 2013

SPX - Exhausting rise

Still a contrasted session.
This difficulty in rising can be an exhaustion signal or a reload signal for the final upward move.

Preferred count: after waves 1-2 / (i) - (ii) the market rises with wave (iii) of 3
Alternate count: market is completing a diagonal triangle in wave Alt:[5] that involves a downward wave of minute degree.

Have a great trading day...with care!

ElwaveSurfer

 

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