"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 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.

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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!

ElwaveSurfer



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