Friday 8/26/12 Market Update

There is no change to the count since the last update.  The market appears to be in an incomplete uptrend that began March 2009.

Although not well formed, there appears to be a reasonable impulse wave (labeled wave 3) now complete.  ~1395 should hold prices, otherwise the alternate corrective count above will become the primary.

Wave 4 should be completing as a sideways correction that will take weeks more to complete; it should be proportional in size to wave 2.