Elliott and Fibonacci Patterns: August 2014

Monday, August 11, 2014

SPX and NDX in correction phase

NDX has confirmed the preferred scenario, wave [a] of 2 of 5

while SPX appears in his alternate, wave a of [4] of c .

Given that the two scenarios are in divergence, one of the two is incorrect.

Long FB, UA, TSLA (ALXN in stop loss, - 3%)

ElwaveSurfer

When the pattern of a reliable average is favorable under The Wave Principle, follow the recommendations below:
A) Select the groups which perform in harmony with the average;
B) Then select stocks that move in sympathy with these groups;
C) Always choose stocks that are constantly active, medium priced and seasoned leaders;
D) Diversify your funds; i.e., employ more or less an equal number of dollars in from five to ten stocks, not more
than one stock of a group. Trading in less than five stocks is preferable to more than ten stocks.
(R.N. Elliott - Educational Bullettin December 1939)

Pagine

Monday, August 11, 2014

SPX and NDX in correction phase