I'm showing what I believe to be the most likely wave count from the March low, which is a [i] [ii] (i) (ii) count. Other counts are possible such as a running triangle, a flat or expanded flat, but I think we should regard those counts as secondary until we see evidence to the contrary. If the count shown is accurate, we are due for a pullback before a powerful wave [iii] begins. One thing to keep in mind is that since we are probably in wave [iii], surprises will most likely be to the upside. Once the February high is cleared in earnest, the trend should accelerate toward 1370 to 1400.
Tuesday, April 26, 2011
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