Monday, December 31, 2012

Monday 12/31/12 Market Update

The label for [iv] has moved a bit since the last update but there is no other change; with the bit of downside today, wave (X) should now be complete and (Y) of [5] underway.

Looking at the short term over the last 3 days, the best alternate is an upward flat.

The target for [5] is clearly ~1500 because of the targets in the chart above and the fact that 1500 is such a nice, even number.  The next best target is ~1475 for a double top with [3].

Happy New Year!

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