Thursday, July 18, 2013

Thursday 7/18/13 Market Update

The wave count remains unchanged since the last update.  Wave 4 may be complete, but the correction looks small in relation to 2.  The alternate' count, the best alternate count, may have put in a top, but the 7/16-7/18 rally looks non-impulsive and labels best as a zigzag so far.

The most probably scenario is a pullback to the 1670s, then a surge beyond 1700 if the primary count is correct (preferred) or a re-test of last Month's low before new all-time highs (not as likely).

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