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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