"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)

Tuesday, April 16, 2013

SPX - First rehearsal of a Cycle Top

Yesterday was one of the worst days on the market for many months;
gold collapses, commodities fall, China's gross domestic product grew less than expected; SPX, DJIA and NDX slide on high volume.
Are these the first signs of the Cycle Top?
Preferred scenario; yesterday my outlook was wrong but until the market does not drop below 1.540, I keep this main scenario that considers wave [2] of c in progress.
First alternate scenario: Thursday, April 11 there was the Top , with a "kinky" wave c .
A big doubt:  the last downward intraday move  appears impulsive...and this is no good...

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


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