"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, April 22, 2013

SPX diverges from DJIA

The "provocative scenario" presented on Friday, the achieve of the Cycle Top, is kept even if it contrasts with the main scenario for DJIA that considers the bull market still in progress. 
Preferred count; the first down wave a/w of minute degree is ended; now bounce in wave b/x .
First alternate count; SPX is in Alt:2/b of a/1 .
Given the divergence between the two indices and the extreme difficulty of correctly interpreting the ongoing pattern, I stay out.

Have a great trading day ... with care!


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