Monday, April 18, 2011

Monday 4/18/11 Market Update

The market made a big move lower today. This was not unexpected however given the downward impulsive action since 4/8 illustrated in yesterday's update.

Since 4/8, there appear to be two impulse waves lower. This means a corrective zigzag has completed or there will be a downward "3rd of a 3rd" wave later this month.

The larger count above suggests wave [ii] of C completed today. Unless within wave (XX) wave [v] of C was truncated (with lack or proportionality between A and C), there should be a new recovery high.

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