Friday, August 28, 2009

Thursday 8/27/09-Friday 8/28/09 1m Intraday Chart

An updated wave count is posted above. I still believe there is more of wave [v] to come, but it seems more likely that an ending diagonal is forming given the scale of the pullback today. This seems the most probable because wave (i) was strong but non-impulsive, the waves from the high today appear corrective (choppy and overlapping) while retracing wave (i) deeply, and an impulse was formed off the low today. Of course there are still alternate counts. Hopefully the market will show clarity in these late stages of C of (Y) of [2].

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