"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, October 29, 2012

SPX - Still a bounce in a bearish scenario

The bounce of wave [b] does not seem finished but the last wave is very difficult to interpret.
As alternate scenario, a wave [c] diagonal triangle that involves the end of the x wave (but this is unlikely).
Unfortunately I am not able to identify good Fibonacci price and / or time cluster and that does not help counts.
Have a great trading day...with care!



ElwaveSurfer
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