"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, April 14, 2014
SPX - In sideways correction
After the failure of the bullish breakout, a recount is needed.
SPX could be in the middle stage of a sideways correction like three / flat / triangle of minor degree (preferred scenario wave x ) or intermediate degree (first Alternate Alt:(4) ).
The downward wave c/y is still in progress ; next target 1738 - 1728.
Long term scenarios in the last post.