Friday, July 6, 2012

Wave 4

The market tested the Trend Average today and it seems like the C wave of a Wave 4 was put in. And the market should be ready to start the final 5th wave as soon as early next week unless the market does a complex correction. Alternatively, one could make the case for the market about to impulse (W1-2-3 instead of the ABC labels on the chart) down but so far this remains a correction. So I am hoping for the market to reach my target area of 1378-1388 before doing a Fib correct of the entire wave from 1309.

Have a great weekend!

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