"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)


Friday, May 31, 2013

SPX - The first three scenarios for today market movement

High indecision.
 
After the yesterday's rise, until the 61.8% Fibonacci's retracement of previous downward move, the possible very short-term scenarios increase, and my first three have, almost, the same odds.
 
First count (bearish): wave 3 of [c] of x wave;
 
Alternate count (sideways): a triangular wave Alt:[b] is in progress; there are already wave Alt:a , Alt:b and Alt:c ; the market is in wave Alt:d ;
 
Second alternate count (down and up): the triangular wave in progress is wave x ; now we are in the final wave 2°Alt:[e] .
 
Have a great trading day...with care!
 
ElwaveSurfer



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