Wednesday, April 25, 2012

Wednesday 4/25/12 Market Update

There is no change to the count from yesterday's update; in the short term, upward action is in line with expectations of the primary count.  A clear impulse wave higher is unfolding since the Monday low.

Action is clearly corrective to the downside following the B of (C) high, but an upward flat since the B of (C) low is still possible.  Considering the options on this and larger scales however, the best count still appears to be the underway impulse wave A of (D).

Proportionality will be better between the impulse legs of the zigzag higher that began March 2009 if new recovery highs are seen.  Shorter term action still suggests the trend is still higher.

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