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!