Tuesday, December 6, 2011

Tuesday 12/6/11 Market Update

Short term action is still unclear, but the count remains unchanged since yesterday's update. For the reasons discussed yesterday, a sideways correction is still likely underway. It should be days more until it completes--perhaps sometime next week.

A double zigzag higher since early October is still the primary count. Sideways corrective wave B of (Y) should be underway now.

For the reasons discussed in yesterday's update, a double zigzag higher since March 2009 is still the primary view. Look for the middle of this pattern, a sideways correction since May 2011, to complete in the coming months.

There will be no update this Thursday.

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