Sunday, April 8, 2012

Thursday 4/5/12 Market Update

There is no change to the count since the last update. The primary count is an impulse lower unfolding since the last recovery high which is part of a sideways correction that began several weeks ago.

The futures closed down 15 points Friday which suggests the market will open down Monday. This is in line with the count above.

There are some variations of the count for wave 2, but it appears to be nearly complete where an impulse wave down since last week Monday will conclude a flat pattern.

The best view at this time is an impulse higher since November underway that should continue for much longer.

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