The short term count has been reworked a bit since the last update but the message has not changed: the wave action is bullish in the short and intermediate terms.
The near recovery high today gives a bullish appearance to the action since yesterday. It is likely that a new recovery high will be seen soon. Wave [ii] may be complete now, but a test of this week's lows is possible if [ii] is still incomplete as a sideways correction.
It is difficult to image a complete impulse higher since the end of zigzag (2). At the very least there should be a 4th wave underway to give better proportionality to the 2nd.
Clearly an uptrend is underway with higher highs and higher lows.
blog comments powered by Disqus