Tuesday, January 15, 2013

Tuesday 1/15/13 Market Update

The alternate' count from the last update is now the primary count.  This is due to the sideways action over the past several days giving at least an incomplete 3 wave advance higher since the low last week.  If B is incomplete, prices should pullback into wave A territory soon but this is now more difficult to visualize than the count above.

The shallowness of B makes sense with the count.  An impulse higher since November is still a low probability.

[iii] of C should reach the 1480s with the target for C still 1500.

The primary count is excellent because it works well with all waves, even when drilling into the fractal.  Obviously when ending diagonal c terminates, there should be a sharp decline.

The even longer term count is still available here.

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