"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)
Thursday, August 15, 2013
SPX - two bearish scenarios
Themarketremains within asideways congestion but I'm waiting for a further decrease. The first twoscenariosare bothbearish: > preferred count (slight decline): the second wave [x] of b is in completion with the upward wave c/y ;
> alternate count (fast decline): the wave Alt:[c] of b is already underway.
First target = 1672-1676 area; second target = 1655.