Wednesday, December 30, 2009

Short term count update

The market dropped below 1123,5. Hence, my short term count from yesterday was wrong. It seems as I was a bit too bullish... : )

I'm going to post a new count in a few minutes.

May be I was right in the beginning to place wave (b) at 1086 on December 12th. What I don't like is that wave iii is really short but since wave [5] extended in wave iii it's very likely that wave v will also extend.

Edit: I added an alternative count if the the rally right now keeps going higher and makes a new high in a few hours.

Good luck in this crazy market : D