Thursday, February 24, 2011

Thursday 2/24/11 Market Update

The market behaved as expected today so there is no change to the count since yesterday's update. At this point, an impulse wave since 2/18 should be complete. A positive day tomorrow, and at worst case a sideways day, is the expectation.

A complete impulse since late January is still the most simple and best view.

There may be a 4th wave unfolding of an impulse that began in late August. This is the best case scenario for the market. More bearish scenarios are still favored at this time.

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