Monday, March 28, 2011

Monday 3/28/11 Market Update

There is no change to the count presented in yesterday's update.

The action today is not clear, but should be part of a downward correction that will likely continue tomorrow. Lower prices should not have been a surprise today.

There has been a considerable retracement of (c) above. This retracement was even more extreme on the Dow Jones Industrial Average. This is an indication that a zigzag since the last recovery high has unfolded.

A double zigzag since the last recovery high (and 3/16) is a possibility. If prices break under 1300.58, or come close to crossing, this will become the primary option.

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