"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, July 21, 2014

US stock indexes: short and medium term perspective

In the last post I described the preferred long-term scenario of DJIA;
below, the medium and short term scenarios for main US stock indexes ;
NDX and SPX appear still in bullish mode after a temporary correction.

DJIA

Already in topping; possible ending diagonal.



 NDX
 
in wave 2 minute of 5 minor of (c) intermediate
of [Y] Primary of X CYCLE




 

 SPX

wave 4 sub-minuette of [3] minuette of c minute of y minor
of (y) intermediate of [Y] primary of X CYCLE




Given that the market is still in uptrend,
I prefer to set only long positions , although with caution
(new purchases will be smaller than normal , no margin,
focus on leaders with sound bases of at least 3/4 weeks)
 

 US leading stocks 
with high IBD rating
and interesting chart patterns
(bullish setup)







Have a great trading day and week, with care!

ElwaveSurfer

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