Saturday, September 17, 2011

Friday 9/16/11 Market Update

The count has not changed since Thursday's update; a sideways correction that began in August should continue before a break under the August lows ensues. The best count appears to be a double zigzag wave (4) underway as described above.

In the longer term, an impulse lower that began May 2011 appears to be unfolding.

An impulse wave that began Monday should now be complete. The expectation is for a pullback before wave [c] of Y ensues to terminate (4).

There will be no update until probably this Thursday.

blog comments powered by Disqus