Wednesday, April 24, 2013

Wednesday 4/24/13 Market Update

There is no change to the wave count since the last update.  An impulse higher appears to be complete.

Exceeding last week's swing high was a bullish movement.  The move down following the all-time high looks like a fairly clear double zigzag correction as well.  If the primary count is correct, a test of the last all-time high should be coming soon as a sideways correction unfolds.

There is clearly an uptrend underway while a significant top already in place remains an alternate count.  This is supported by the fairly bullish action so far action this week.

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