"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, March 4, 2013

SPX - Upward wave of minuette degree

In the last trading session the market could have already reached the bottom of wave [b] and started the impulse wave [c] , according to my preferred scenario that considers this upward move a zig-zag pattern of wave b/x .
The first alternate scenario, instead, is immediatly bearish but is invalidated if the index rises above 1525.

Have a great trading day... with care!



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