Wednesday, October 5, 2011

Wednesday 10/5/11 Market Update

The market continued higher today for no change to the count in yesterday's update.

The view that a flat is unfolding since late August has not changed. This flat should be wave (4) but possibly a second wave if an alternate count is correct.

Given momentum considerations and characteristics of typical impulse waves, An impulse wave lower that began May 2011 should be underway and winding down.

Tomorrow's update will likely be late.

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