The count presented in yesterday's update appears to have been exactly correct. Today was a strong up day which is likely a "3rd of a 3rd" wave within a larger rally. A completing wave (iv) or (v) of [v] seems likely at this point as the S&P 500 continues higher.
It is possible a top is reached tomorrow if (iv) is complete. So far (ii) and (iv) are both sharp corrections, so (iv) is probably not complete.
The rally since late November is long in the tooth. A good count is a completing wave [v] as shown to complete an impulse rally. [iii] was slightly shorter than [i], so [v] is likely in its later stages and will not extend.
Wave C is now well proportioned to A. It should be less than one week until a significant top is reached. At least the wave since late August 2010 should terminate.
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