Tuesday, March 19, 2013

Tuesday 3/19/13 Market Update

The long term count remains unchanged.  The trend is still clearly higher with no good complete wave count describing the action since the March 2009 low.

Among other reasons, the size of the pullback since the 3/15 high suggests a complete impulse higher has unfolded since the February low.  The labellings within 1 work well with this view.

A double zigzag down since 3/15 works very well.  Clearly these waves work best as corrective waves, especially in the way the gap down on Monday fits next to its neighboring waves.

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