"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)

Tuesday, July 30, 2013

SPX - wave [5] still lacks

Preferred scenario: wave [4] has finished at 23.6% Fibonacci retracement and the wave [5] of a is in progress. I'm looking for a wave y minor of (y) intermediate like an a-b-c zig-zag.

Alternate scenario: we are still in wave Alt:[4] and, after a triangular wave Alt:x , now a downward wave Alt:y is starting.

I am always of the opinion that in the long term is the DJIA who leads the path, as in 70s; the SPX chart is misleading.
Have a great trading day ... with care!



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