Thursday, September 17, 2009

Tuesday 6/23/09-Thursday 9/17/09 60m Chart

The best two wave counts that I can see are shown in the chart above. The primary illustrates a completed primary wave [2]. The alternate (on the bottom of the chart) implies more upside to come after a wave [iv] of C pullback that must not break below 1039.47.

The market needs to show weakness very soon if wave [2] has actually topped. The waves coming off the high today show that potential but are surprisingly overlapping.

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