Wednesday, January 5, 2011

Wednesday 1/5/11 Market Update

The slight change in count since yesterday's update illustrated above is due to the continued advance today. Without looking deep into the subwaves, the count is actually more balanced than the last.

In the short term, not much has changed; the market is approaching a top very quickly. There is a great chance a top will be reached tomorrow or Friday and at a level that should not extend much higher

The incredible resiliency of the rally that began late August should soon be coming to an end. The count above, with larger view available here, shows a possible longer term count.

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