Wednesday, July 10, 2013

Wednesday 7/10/13 Market Update

The short-term count has changed, but the picture is still a bullish one.  The futures are currently suggesting a gap higher tomorrow morning, but this will likely mark the end of an impulse wave that began 7/3.  7/8 clearly looks like the core of that impulse.

There appear to be 2 impulse waves higher since the low last month that followed a very corrective-looking wave lower since the last all-time high.  These are most likely 1st waves higher within (5) where a new all-time high should be seen soon.

A new all-time high may be a major top.

blog comments powered by Disqus