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Saturday, December 1, 2012

Our seventh EW rule: "Accuracy"

We have twited, some minutes ago, in Stocktwits, our seventh EW rule: "The accuracy", as waves react exactly to Fibonacci, inclusive with decimals. Under the twit, we are reposting from May 21, 2012 

Monday, May 21, 2012 when we call for the change of direction in the $SPX chart, because the third Elliott Waves rule: Wave four can't invade territory of wave 1 and wave one was in place at 1,292.66 and so it happens.Price, later return the downside but after confusing the market.


Perutrader
@ppearlman @howardlindzon $SPX $AAPL http://stks.co/hGHw" /This is our seventh EW rule: Accuracy Waves react exactly to Fibonacci decimals

$SPX: More about the 1,292.66 pivot point as third EW rule.



IF price continue respecting the third EW rule: " A wave 4 can't invade wave 1 territory", the 60 min MACD can give us,later, some confirmation for a change of mood in markets.


We think that, maybe, wave 5 is in play with price action at this hour : 13:11 ET


MACD breaking downtrend line. Good signal to the bull theory. 14:45 ET