"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, September 30, 2013

SPX - On the Fibonacci's support

SPX finds support @ 38.2% Fibonacci's retracement, but the down move doesn't seem finished.
We should be in wave [c/y] of c/y or in wave Alt:c of Alt:[2] .
Now one of the biggest dangers of instability in the financial markets could be the political and economic situation of Italy, where there is the worst government crisis since 70 years, with the country close to being commissioner by EU.

Friday, September 27, 2013

SPX - Always bearish implications

Congestion continues; for now the 38.2% Fibonacci support has held but it seems more likely a bearish breakout.


Thursday, September 26, 2013

Wednesday, September 25, 2013

SPX - Still in correction

Preferred count: wave [2] of c is in progress
First alternate count: we are in Alt:c of Alt:[1]

Have a great trading day...with care!


Tuesday, September 24, 2013

SPX - Correction in progress

The first downward wave ( 1 or a ) seems to be ended or close to completion (@ 1690?).


Monday, September 23, 2013

SPX - Downward move of minute or minuette degree in progress

After last week's illness (colic liver), I hope to resume the usual daily posts.


The market seems to have reached a very short term top of minute or minuette degree.

Preferred scenario: after the top of b wave, a downward move has started; the b wave pattern could be an irregular or a running flat.
First alternate scenario: after the top of Alt:[1] of Alt:c , we are in the pullback of wave Alt:[2] .
 First target: 1690.

Have a great trading day...with care!


Wednesday, September 18, 2013

SPX - Top's test

The upthrust in the last post has occurred and required the updating of the preferred count.
Now the first two scenarios have the same likelihood (at least up to 1710 that is the next target).

Have a great trading day ... with care!


Monday, September 16, 2013

SPX - Minute reversal less likely

The market seems ready for another upthrust, so the Alternate bullish scenario increases its chances.

Have a great trading day ... with care!



Friday, September 13, 2013

SPX - Waiting for the top's reversal

Even if the market could be in a top's reversal [y] of b,
1°) the last rebound was stronger than expected,
2°) the pattern is not clear ,
3°) a confirmation is required,
so no short position.
Above 1692 the first alternate count (bullish: wave Alt:c of Alt:y ) prevails.
Have a great trading day...with care!

Thursday, September 12, 2013

SPX - Topping or new scenario

The first target has been achieved; the next is 1692.
Above, the preferred count is wrong (a zig-zag pattern with wave b that retraces more than 78.6% is very unlikely).


Wednesday, September 11, 2013

SPX - Rebound close to completion

Preferred count: close to a bearish reversal; we could be in wave c of [y] of b of b .
First alternate count (bullish): wave Alt:c of Alt:y



Tuesday, September 10, 2013

SPX - The rebound continues

the Preferred count remains the same: wave [y] of b minute of b minor; final target 1682-1685.


Monday, September 9, 2013

SPX - Alternate count of minute degree prevails

The alternate count prevails; we are already in wave b of b (wave [4] of previous first count would be out of proportion to wave [2])

Have a great trading day ... with care!


Friday, September 6, 2013

SPX - Nothing new

Insignificant session, except the coverage of the gap of 27 August (refer to the yesterday's remarks).


Thursday, September 5, 2013

SPX - New alternate count

Yesterday's upward movement denied my expectations

Preferred scenario: we are still in wave c of [4] of a ; first target @ 1617

New alternate scenario: we are already in Alt:[a]/[w] of Alt:b ; first target @ 1669

Have a great trading day ... with care!


Wednesday, September 4, 2013

SPX - Bearish short-term scenarios

The last downward move could be started yesterday.

Preferred scenario: we are in wave 2 of [5] of a

Alternate scenario: we are in Alt:(2) of Alt:c of Alt:[y] of a .

First target @ 1.617

Have a great trading day ... with care!


Monday, September 2, 2013

SPX - The bearish pattern is not over.

The "Three" of last Thursday , which wasn't invalidated in the Friday's session, requires an update count.
Preferred scenario; the five impulsive pattern of wave a is not over, I'm waiting for a new bottom.
First alternate scenario: we are in a double zig-zag Alt:[w]-[x]-[y] and a new down move is starting.

Have a great trading day...with care!