"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, May 13, 2013

SPX and DJIA scenarios converge

In a post 2 months ago, I wrote that the benchmark index to identify the potential Top of this Cycle is the DJIA and today I am more convinced than ever.
 
Preferred medium-term scenario: we are in the early stage of wave c minor of (y) intermediate of [Y] Primary.
First Alternate medium-term scenario: we are in the final stage of Alt:3 minor of Alt(c) of [Y] Primary.

 
SPX is in a corrective mode more complex than DJIA.
 
Preferred count: we are in wave 3 (or 5) of wave [3] minuette of a minute of z minor.
First Alternate count: we are in Alt:[c] of Alt:w of z minor.
 
Therefore, according to my point of viewthe main scenarios of these two Indices suggest that the uptrend is not yet over.
 

 
 
Have a great trading day...with care!

ElwaveSurfer

2 comments:

  1. very interesting, what would the intermediate top be on DJIA 15750?

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  2. Hi Abugarance,
    my target is variable, around 16400 if the top will be in August or September, and in any case close to the intersection of the prices with the Triangle's up-trendline (red line on the daily chart).
    However, the most important thing will be the structure of the pattern; if the right outlook is that of Caldaro, will prevail the alternate count (see my "US index long term view" page, weekly chart).
    Regards.
    ElwaveSurfer

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