"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, September 11, 2012

SPX - Corrective wave in progress.

Yesterday the wave 1 / a (Alt: a / w) is over, and started the wave 2 / b bearish.
It would be important for the strength of the trend, which did not end below 1426, however, the count can be valid up to 1401.
 I consider only long position on a balanced pullback or on the breakout of a possible flat base.
Have a great trading day...with care!



Ieri l'onda 1/a (Alt: a/w) è finita, ed è iniziata l'onda 2/b ribassista. Sarebbe importante, per la forza del trend, che non terminasse sotto a 1426; comunque il conteggio può essere valido fino a 1401.
Valuto se aprire long solo su un pullback equilibrato oppure sul breakout di una eventuale flat base.

Buon trading... e prudenza!


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