Thursday, July 5, 2012

Thursday 7/5/12 Market Update

There is no change to the count since the last update.  Prices are holding after the large gain last week.  The structure of the waves following the low last week still looks incomplete for a zigzag or an impulse wave.  In other words, higher prices appear likely.  In addition, more than 61.8% of the May-June wave down has been retraced with prices holding.  This is a bullish sign for the market.

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