Little has changed since the last update; the market is in correction mode following an impulse wave that began mid-June. The degree of this impulse has changed as suggested may happen last week, but the structure remains the same.
The wave action since 7/7 is corrective in nature with a good amount of overlapping waves. The count of what should be corrective wave (2) is not exactly clear, but a triple zigzag is actually the most probable given the wave action.
A continuation lower is probable given the sideways action since Thursday and downward action since Wednesday. I move under 1300 that sticks is a warning that the count is wrong.
The market should continue higher later this month.
blog comments powered by Disqus