Tuesday, August 21, 2012

Tuesday 8/21/12 Market Update

The "or" count used in the last update is now illustrated above.  There was a new recovery high today, but weakness followed.  If prices fall noticeably under the [iv] territory, the June low will have a higher probability of being reached.  This is because an impulsive pattern higher at that point will look like a weaker count given the choppy, overlapping pattern higher since June.

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