spx 03-07october, page-29

....a side note on that play.....the blue horizontal line denotes where i measure 50% of the first up-down-up move (1st wave for the nelsons) and the fib grid is the orthodox break-down target set from the time level where the trendline extends backwards from the high plus the time line that extends back from the base of the whole move, once squared on a time basis (vertical axis) the fib grid can be applied to the actual break of the wedge itself to define the end-price target......in this case the 50% was slightly overshot and the move completed......a trade within a trade, pattern within a pattern.....