Saturday, June 29, 2013

Friday 6/28/13 Market Update

There is no change to the wave count since the last update as wave (4) now appears to be complete after the large impulsive rally this week.  A sharp second wave pullback should be underway.

There is a corrective look to wave (4) above, and its subwaves clearly count best as shown above: a complete correction.  The rally since Monday is very large to work into an incomplete wave lower.

In the long term, odds also favor another all-time high, but keep in mind the sell-off since the last all-time high could just be A of (4).

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