Wednesday, February 3, 2010

Wednesday 2/3/10 Market Update

Prices moved lower today within what appears to be wave (x) of [ii]. A detailed 1 minute chart is above. The sideways prices seen at the middle to end of the day have triangle characteristics. This may be the final wave (wave y) or middle wave (wave x or c) of (x) that may or may not be complete. There is room to move lower but this is just one possibility. In any case, the waves from yesterday's peak look like choppy, corrective waves so the double zigzag wave [ii] idea is still valid.

A final chart is above.

Please be aware that the posting tomorrow may be a late one.

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