Tuesday, April 27, 2010

Tuesday 4/27/10 Market Update

The B wave flat or double correction suggested in previous updates appears to be unfolding. The best count at this moment is a completing downward flat correction that began 4/15. This is highlighted in the chart above, but take note that this flat may only be the first leg of B. An ending diagonal is clearly no longer an option.

An impulse wave lower looks like the best option. A count is shown in the 1 minute chart above, but take note of the alternate. This should be the final wave of the flat suggested above.

The larger view remains the same. Wave C of (Z) of [2] should follow the correction that appears to be underway.

blog comments powered by Disqus