Sunday, June 21, 2009

A glance into the future...

-intermediate and long term update-

My short term count is still valid thus there is no need to update it. ; )

My intermediate term forecast looks as follows:

I know, it seems a bit unrealistic that the market will break the strong support at 880 without a decent bounce first. But if the market is in wave [iii] it should break the support without any problem.

Let's take a look on my two long term counts.

Preferred count (blue):

The market completed Intermediate (4) of Primary [1] or [A] in June 09 at 956 and is now in Intermediate (5). Wave (5) should last a couple of months and make new lows.

If we see some corrective stuff in the next weeks the orange forecast should be the right one. After a correction to about 800 we should see new highs later this year before Primary C will start.