Thursday, January 13, 2011

Thursday 1/13/11 Market Update

Nothing has changed since yesterday's update. Wave (iv) of [v] appears to have completed today. There will likely be a limited early morning rally tomorrow that should complete an impulse that began in late November.

As stated yesterday, wave [v] should be an impulse that does not extend. If the count is correct, there is clearly a good chance for a top tomorrow to complete a larger impulse.

Going back further, a zigzag since late August is the best view. It fits within the larger picture shown below.

The count on this scale is debatable, but notice the proportionality between all waves with alternation of subdivided and non-subdivided impulse waves within the intermediate degree zigzags. The count also respects the fine structure of the waves not visible on this scale, all the way down to the 1 minute time frame.

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