Sunday, December 13, 2009

Friday 12/11/09 Market Update

Above is a 1 minute chart with three possible counts counts. I favor the bottom alternate if the market moves higher tomorrow (wave (v) extends) and the main count if the market moves lower. The short term is not certain and either one of these options are possible. In any case, I am still confident of the intermediate term picture, that a B wave has bottomed and an impulsive C wave higher will follow.

When [ii] begins, I expect a zigzag correction lower as that is the most typical correction for second waves. That should be a good setup for a big move higher.

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