Tuesday, May 14, 2013

Tuesday 5/14/13 Market Update

There is some change to the very short term count of (b) since the last update, but this is a very minor change.  Partly due to Monday's waves, (b) works best as a triangle.  This means (c) has terminated or will do so very soon.  If the alternate' count is correct, there can be some additional action higher, but alternate' waves [1] and [2] of iii look odd making the count questionable.

If there is not a double zigzag wave B higher unfolding, one pullback and final impulse higher should terminate an impulse wave that began at the April low.  That option would probably take several weeks to unfold.

The alternate count has been reformulated a bit, but there are some significant problems with the small waves around the alternate wave 1 and 2 area.

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