Sunday, January 30, 2011

Weekend Update

The correction (minor 2) / or impulsive (primary wave 3) has begun. After going through my counts, it looked like I gave too much to my minute wave 4 with a truncation. But with Friday's sell off, the updated count looks perfect: alternating waves, and good wave 2/4 ratios.

The big question, of course, is this the start of minor wave 2 or the beginning of Primary wave 3. You all know where I lean, but I'm willing to take it one day at a time. If this is minor wave 2, then we should see the buyers come in hard in the 1175/1220 zone. My target for minuette wave 1/a is 1260.

Best of luck!
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