Tuesday, January 31, 2012

S&P 500 ~ Pre-Market Warm-Up ~ 31 January 2012

Looks like my wild ass guess that a correction was underway is correct... : )

Wave [ii] took about two weeks to unfold. So far, wave [iv] has only lasted three days so, most likely this correction takes a few more days to complete.

As said earlier the 1265 level is important for the medium-term uptrend.