Thursday, January 27, 2011

Thursday 1/27/11 Market Update

Today was a largely uneventful day in terms of price action and the wave structure. Neither the view nor the count has changed since yesterday's update, but the structure higher is very unclear at this time and is subject to change. An ending diagonal wave [v] of some kind appears to be the best option however.

Wave [B] of z of (i) may be nearing completion as a flat, but this is not clear.

A continuation higher is likely at this point on all scales. The trend higher is well established.

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