"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, March 14, 2013

SPX - Close to a completion of the impulse wave

The underway pattern isn't clear but seems to prevails the hypothesis that the wave [3] is over and the wave [4] is ending, and we are close to a bullish breakout (preferred scenario).
However, even if with less probability, we can't discard the alternate scenarios, according to which , after a top of Alt:a/w , the market is developing the Alt:b/x wave.

Have a great trading day....with care!


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