Thursday, July 22, 2010

Morning Update

Well, the count was wrong as the gap is going to occur in the opposite direction. My next alternate count is displayed here. Ignore any squiggle counts that don't match up as I haven't updated the whole chart yet, but you get the big picture: we're in a wave B triangle that (if confirmed) could easily take us to 1145. Should we take out yesterday's high this morning, then it might even be worse, but I'll wait and see what the price action is and where it projects future price action.

If for some reason price drops to 1060, then we should quickly see 1040 (but I'm not counting on it).

Best of luck!
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