A short term possibility stated in yesterday's update, a set of 1-2 waves higher, appears to have set up the surge higher today. The large retracement of the last swing low has caused a cascading change to the count on many levels. The count above shows a double zigzag wave since March 2009 underway with a sideways correction dividing the zigzags underway since May 2o11. This option has been discussed as a possibility in the past.
It is very time consuming to change labels to charts. I will do my best to provide more detailed charts soon, likely this weekend.
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