Sunday, July 18, 2010

Summer Rally

A couple of days ago I said there would be surprises to the upside. Since then, price has rallied out of a very small wave 2. It appears the rally isn't done yet. In this count I have us in wave 2 of iii of 3 of C, to keep things simple. Once this minor wave 2 is done, there should be another violent rally higher. Another possibility is that the last top was the end of wave iii, this would mean higher prices nonetheless but maybe not as high or violent as in the other count. There are ofcourse other counts, but this is the faith of an EW'er, always chose the count with the highest probability.

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