"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 scenarioof 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.
Already in topping; possible ending diagonal.
in wave 2 minute of 5 minorof (c) intermediate
of [Y]Primary of X CYCLE
wave 4 sub-minuette of  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)