Monday, September 12, 2011

Monday 9/12/11 Market Update

With the limited downside today, the short term count has changed slightly. The general idea illustrated in Friday's update is still valid however.

The count still suggests an eventual break of the August lows. The most probable count is shown above. It suggests this break is coming in days, not weeks.

In the longer term, an impulse lower since May 2011 appears to be unfolding. This should be followed by an eventual test of the 666 March 2009 low.

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