Wednesday, February 2, 2011

Wednesday 2/2/11 Market Update

There is no change to the count since yesterday's update. Wave (iv) of [v] should be very near completion if it has not completed already. Wave (v) may complete tomorrow.

There is an impulse wave since late November that should complete soon; there has been a choppy set of waves higher the past month (late in the rally) with substantial overlap which is indicative of a series of 4th and 5th waves.

It is very difficult to push the labels forward to make room for additional 4th and 5th waves. The best alternate is an extending wave [v] (wave (i) of [v] underway).

The market continues higher, but it is only a matter of time until the rally since at least late November comes to an end.

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