Monday, July 25, 2011

Monday 7/25/11 Market Update

The label for (ii) of [iii] has been moved since yesterday's update, but the larger view remains unchanged since yesterday's update; the market appears to be in an impulsive uptrend that began in June 2011. The count is getting more unclear however.

If prices continue lower tomorrow morning, there is a good chance a flat as described above is unfolding. Note that some additional short term upside is still expected with this count.

In the long term, new recovery highs are still expected.

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