"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)

Tuesday, February 11, 2014

SPX - Several impulsive patterns

There are many possibilities to count the impulsive wave from the last bottom @ 1738
Preferred count: wave 1 of [1] or [c] , like fifth extension, is in completion.
First alternate: we are at the top of wave Alt:3 close to the 2.618 Fibonacci extension of wave Alt:1 from Alt:2
Second alternate: the top is wave 2°Alt:5 of wave [1] or [c] so the retracement will be deeper.


1 comment: