Thursday, September 8, 2011

Thursday 9/8/11 Market Update

There was 2-sided action today with the session's high likely wrapping up either an impulse or double zigzag that began Tuesday.

The expectation is for a pullback continuing tomorrow that is following one of the counts above. The primary count has not changed since yesterday's update, but the alternate count above is not a poor choice if today's high is taken out.

The market is still likely in a downtrend that began May 2011. This trend is expected to continue until the March 2011 low is tested.

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