"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, June 5, 2013

SPX - Complex correction

The intraday top labelled in the yesterday's post like wave 2 , was confirmed but has changed in wave x because the downward move of the last session it is more difficult that could be qualified as impulsive pattern.

So the new counts become:
Preferred (bearish): we are in wave y of [y]
Alternate (bullish): the correction is over and the uptrend resumes.
Have a great trading day...with care!

ElwaveSurfer


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