Showing continued strength, the market continued higher today. The best count continues to be a rally within wave (3), probably wave 1 of (3), as shown above. The count has not changed since yesterday's update.
From a wave perspective, new recovery highs are almost certain given the large retracements of the May-June and July pullbacks.
The best count by far is a February-June flat with a developing impulse higher now underway. My long term view which was published 5/1/11 is still available here.
The next update will be Sunday.
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