What Does a Fractal Look Like?
And What Does It Have to Do with the Stock Market?
By Elliott Wave International
Although Ralph N. Elliott came to his conclusions 50 years before the new science of fractals blossomed, he took a step that current observers of natural processes have yet to take. He explained not only that the progress of the market was fractal in nature but discovered and described the component patterns. Find out more about the stock market and fractals in this excerpt. Read more.
New highs may will be made despite my last update (sorry guys I didn't have time to confirm some counts). Seems is missing one last spike for DAX at medium term.
On other hand at SPX futures since yesterday highs is clear (5 min time frame) one corrective pattern.
At medium term we have some alternative counts, like wave ii already finished or still missing something to completed (this last chart). Despite these alternative counts I believe this will be a reversal area at short term. The first bear signal will be price below the MAE 50 (+-1095).
Sorry the quality of this chart but today will be a hard day of work. Following this chart seems wave ii finished yesterday. Now the bears needs a good sell off and finished the week above the MAE's 50 and 20. Now is just testing the MAE 50. Good Luck.
The opinions listed on this blog are of the author only, and shall not be deemed as financial advice, or any other sort of advice. All visitors to the blog should do their own research before making any decisions. This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses any one might sustain from the content provided. Author is not a registered financial advisor. Author does not engage in dispensing financial advice.