Saturday, June 18, 2011

Friday 6/17/11 Market Update

The count remains unchanged since Thursday's update. The market should continue higher for a few days within 4 unless [b] of 4 is incomplete.

An impulse lower since the last recovery high is still the expectation. At this time, there is a good chance the down move is incomplete.

The longer term expectation is for new recovery highs with at least one more impulse higher following a flat that began February.

I will be out of town next week. The next update will be Sunday 6/26.

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