Monday, April 11, 2011

Monday 4/11/11 Market Update

In yesterday's update, it was suggested that (iv) was either complete as a single zigzag or still completing. With Friday's low exceeded in impulsive fashion, (iv) appears to be underway as a double zigzag as illustrated above.

The market is starting to turn lower following an up move that began 3/16. The short term count suggests corrective action since Friday. A new recovery high should be reached this or next week.

The rally since summer 2010 should continue, but likely not for long.

blog comments powered by Disqus