Wednesday, May 2, 2012

Wednesday 5/2/12 Market Update

There is no change to the count from yesterday's update.  A short-lived downtrend, (E) of [4], should be underway.

All waves over the past few months marked in the triangle above, upward and downward, have a clear corrective appearance.  The best alternate count is a correction that is something sideways.

The longer term view is still bullish, but the action since March 2009 still looks corrective.

I will be teaching a live seminar for Elliott Wave International on May 19th entitled, "Introduction to the Elliott Wave Principle-One Day Seminar". Find out more about this course and read my bio here. Elliott Wave International interviewed me not long ago. Find that interview here.

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