Tuesday 6/7/11 Market Update

With some slight modifications to the short term count in yesterday's update, impulse wave 3 that began earlier this month should be winding down. Wave (v) of [iii] appears to be underway now.


A flat since February may be underway. If this is not correct, the next estimate is some other sideways correction underway since February with a zigzag lower since the last recovery high (3 then becomes wave 'c').


The larger count is not entirely clear, but a new recovery high is expected later this summer.