Sunday, April 15, 2012

Friday 4/13/12 Market Update

There is a change to the count since the last update. A wave [4] triangle may be unfolding as the impulse wave that began in November 2011 continues higher. The primary count suggests that the zigzag rally that began March 2009 is still incomplete. This actually makes more sense considering the current proportionality relationship (or lack there of) between waves a and c.

The March-April rally is still very corrective looking. It is labeled zigzag wave (B) of [4].

It is due to the Thursday rally that the count has been changed; the wave (C) of [4] above is difficult to view as an impulse.

The Tuesday-Thursday rally is clearly corrective looking, but the wave (D) should be a zigzag-family pattern.

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