"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)

Wednesday, April 3, 2013

SPX - Strange pattern

The market shows some reluctance in the upward movement, the pattern formation is difficult to label, and the risk is the construction of a 5 wave ending diagonal.

So it's needed more caution than usual.

Preferred count (bullish): we are in the early stage of wave c of minute degree.
First alternate count (topping): Alt:[5] is close to completion like ending diagonal Alt:1-2-3-4-5

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



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