"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 28, 2013
SPX - Rebound too strong
therebound wasvery strong,has exceededallFibonacci's retracements,and seems to haveimpulsivestructure;the market couldhave completed thewave[a]of[a]-[b]-[c] zig-zag pattern, nowdownward wave[b]thenfinal riseto end waveb/x with terminal targetbeyond theprevioustop. The previousalternative scenariohaslost consistency.