"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 "provocativescenario"presented on Friday, the achieve of theCycle Top,is kept even if itcontrasts withthe main scenariofor DJIAthat considers the bull marketstill 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 thedivergence betweenthe two indicesand the extreme difficultyof correctly interpretingthe ongoing pattern, I stayout.
Have a great trading day ... with care! ElwaveSurfer