Friday, August 16, 2013

Friday 8/16/13 Market Update

There is no change to the wave count since the last update.  An impulse lower that began Tuesday should be complete or nearly complete.  The size of the correction coming is debatable as it should be proportional to one of the several good wave counts above (the colored count or one of the "or" counts).

The slide lower can be a complete zigzag within alternate wave [4], but the size of a complete correction is still small in time and price in relation to alternate wave [2].  So lower prices should be ahead.

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