Sunday, April 3, 2011

Friday 4/1/11 Market Update

The count has not changed since yesterday's update. Following wave (iii) of [v], wave a of (iv) may be complete with wave (iv) possibly complete. The next best option is wave iv of (iii) action continuing Friday.

The strong uptrend since 3/16 continues. This move looks like a clear incomplete impulse.

Given the winding down upward impulsive count since 3/16, a double top with the last recovery high seems likely. Of course this assumes the larger count is correct and wave [v] will not be extending.

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