Sunday, March 4, 2012

Friday 3/2/12 Market Update

With the exception of changing the labellings of wave (ii) of [v] from a complete wave to an incomplete wave, there is no change to the count from the last update. In the short term, the market is still undergoing sideways consolidation. It is clear to see that corrective waves are being traced out in both directions.

The market is still grinding higher as it is forming an impulse wave higher since December. The count is not particularity clear, especially over the past several weeks, but no matter what it is, this wave is very likely winding down with its core having already unfolded in January or February.

In the longer term, there is no change to the count. Proportionality between A and C of (Y) is becoming lessened, however the count above is still the best count.

How the above waves fit into the even longer term can be seen here in an article published last year.

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