"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, August 19, 2013

SPX - Perhaps the downward wave is finished...

.... or perhaps not; the breakdown of 50 day MA is worrisome :-/

The preferred and the first alternate count have the same odds;
wave b could be in completing with a downward zig-zag [a]-[b]-[c] or we are just in wave Alt:[a]

However, it is too early to open new long positions (it is already difficult to keep those in progress like VRX and SLM)

If and when a new upward move will start, I'm looking for the following leading stocks: 
ACT, LNKD, HLF, QCOR, FLT, GMCR, DDD, WWWW

Have a great trading day...with care!

ElwaveSurfer




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