Sunday, July 1, 2012

Friday 6/29/12 Market Update

After the major advance Friday, the count illustrated here has not changed since the last update.  On a variety of scales, the trend appears to be higher.

The count above seems to capture all the features of the waves since the June low.  If the market falls again, the low last week should contain prices.  In the longer term, a big fall lower seems unlikely from a wave perspective.  Good alternate counts are sideways corrections lower still underway where support zones hold prices.

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