"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, April 25, 2013

SPX - Still in the upward wave of minute degree

Short-term Preferred scenario: SPX is in corrective wave b of [y] of b/x of a/w minor; when it will be finished, small final upward move, then correction.
 
Short-term Alternate scenario: the Alt:[y] and wave b/x of minute degree is already ended, so the bear move in c/y is in progress.
 
Medium-long term Preferred scenario (neutral/bearish): the Cycle Top has already occured so we are in the first downward (a)/(w) wave of intermediate degree.
 
Medium-long term Alternate scenario (neutral/bullish): we are in (Alt:x) of [Y] od B/X/D , so the Cycle Top has NOT yet occured.
 
Extreme caution because SPX diverges from DJIA, which has a bullish medium-long term preferred scenario (see previous posts).
 
Have a great trading day ... with care!

ElwaveSurfer


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