Tuesday, April 13, 2010

Tuesday 4/13/10 Market Update

The ending diagonal wave (v) of [iii] alternate suggested yesterday is now the primary count. Some targets and detailed views are illustrated in the 4 minute chart above and 1 minute chart below.

~1204 looks like a good target for the completion of (v) of [iii]. It is possible that a wave y of double zigzag (b) of triangle [iv] wave is underway; this is the best alternate. A Flat or double wave [iv] are also possibilities but not as desirable. All of the options suggest an upward corrective wave completes tomorrow.

An expanded view of the rise since 2/5 can be seen above. The completion of a wave (v) ending diagonal should result in a sharp wave [iv] correction that easily reaches the 1170s. Wave [ii] was a sideways correction and this would alternate well with a sharp wave [iv].

The larger view remains unchanged. This unlikely alternate is still a possibility.

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