Wednesday, March 14, 2012

Wednesday 3/14/12 Market Update

With the exception of some minor short term adjustments, there is no change to the count from yesterday's update. The impulse wave marked as [ii] above appears to be complete.

It is possible that an impulse wave that began at last week's low is now winding down. If this is the case, it is most likely a 3rd wave since its 1st wave is extended.

There continue to be no standout counts in the longer term. While it is possible that wave [5] of c is underway, this is not the best count given its lack of proportionality to a. The expectation is for this multi-month rally since November to continue.

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