Wednesday, June 29, 2011

Minor Correction Coming

The market continued to rally today, following the bullish count posted from last week. And it seems like this W3 ended today (or tomorrow) and we should start a correction that will probably be mild before finalizing with a W5 for another high for this particular wave. Where W5 will end is anyone's guess but there are some key resistance points where the market will start a deeper correction. I am holding the long margin portion until I see completion of the 5 wave pattern or at the TA, which is now higher than my cost.

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