Monday, October 25, 2010

Monday 10/25/10 Market Update

The market behaved exactly as expected in Friday's Update; a rally higher then a sell-off. The rally today should have been wave c of (y) to complete wave [iii] of ending diagonal wave C.

Wave [iv] is likely not complete. Perhaps the mid to upper 1170s are reached tomorrow to complete this wave. A break under 1170 indicates wave C is complete.

The rally continues higher but with little momentum. A top this week is probable if the count is accurate.

Prices are expected to complete a major top when the rally since 8/31 completes. November should easily be a negative month for the market.

blog comments powered by Disqus