Tuesday, April 24, 2012

Tuesday 4/24/12 Market Update

There is no change to the primary or alternate counts from yesterday's update.

In the short term, there was an overlap of last week's swing low.  This makes short term bullish action more likely and is line with the forecast here.

The action since the February high remains corrective-looking in both upward and downward directions.  If a wave [4] triangle is not unfolding, a more complex sideways correction underway is a good possibility.

The longer term view still suggests higher highs in the near-term future for reasons of proportionality when considering action since March 2009.

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