"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.

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