Price action since the wave B bottom has been hard to count, however as time passes the waves become clearer. Wave C looks like it's finished, there are however a lot of possibilities as to where this fits into the bigger picture. It could be wave 2 of 5, which would mean new lows. It could be the end of a bigger wave A. It could also be wave 1 of C. Or be part of a more complex combination. The short term trend however is down. Expect lower prices today.
Thursday, March 4, 2010
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