Elliott and Fibonacci Patterns: SPX - The preferred count is bearish

Monday, July 1, 2013

SPX - The preferred count is bearish

Short- term preferred count (bearish): SPX is in wave [c] of y of x ; in this case, the main doubt is that the last intraday move doesn't seem impulsive;

Short - term alternate count (bullish); we are in the first leg of a new upward wave.

Have a great trading day...with care!

ElwaveSurfer

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When the pattern of a reliable average is favorable under The Wave Principle, follow the recommendations below:
A) Select the groups which perform in harmony with the average;
B) Then select stocks that move in sympathy with these groups;
C) Always choose stocks that are constantly active, medium priced and seasoned leaders;
D) Diversify your funds; i.e., employ more or less an equal number of dollars in from five to ten stocks, not more
than one stock of a group. Trading in less than five stocks is preferable to more than ten stocks.
(R.N. Elliott - Educational Bullettin December 1939)

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Monday, July 1, 2013

SPX - The preferred count is bearish

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