![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIhbZXR4IFRJbJzfbJILqEBN-9FS_FpNToxjI2lVBipcW6afI9X4YUS-T_wj2p4Z7xcNAIomRfg_APQLLgY57TsDUJ5DGymGsgqp-LeejohRfe-UJvUI4H1LvP6P0wA1zCeiNnp0FMlMiv/s320/count1222.png)
I mentioned yesterday that the market was going for the 200 day MA and we got somewhat close at 1255. I am still not sure if the wave labeling is correct but I am inclined to favor a W2 correction now before seeing a big rally breaking the 200 day MA. It we get a big gap up tomorrow, then I'll revert to labeling the current wave as W3, but for now I am assuming W1 has ended or about to end.
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