Sunday, December 11, 2011

Friday 12/9/11 Market Update

The count has not changed since Thursday's update; a new impulse wave should have started at Thursday's close which will test the last recovery high set in May.

The shot term waves are not clear at this stage, but two-sided action tomorrow within part of a larger uptrend is probable.

An incomplete double zigzag correction underway since early October is still the primary count. The October highs should be tested then broken unless (X) is something more complex.

In the longer term, a corrective wave higher since March 2009 should still be underway.

blog comments powered by Disqus