Monday, December 13, 2010

Unexpected rally but no big changes

Price rallied a bit more than expected, but nothing dramatic has to change on the count. I have moved up the wave B to this latest high. The triangle count got invalidated, but can be reformed by counting a bigger wave C. The bigger picture remains the same, I am still looking for wave B to finish lower. Should 1.3322 get broken, the triangle count gets invalidated, and the main count will be have to be counted as an expanded flat which is always dangerous as it could mean a new trend has started.

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