Thursday, July 23, 2009

Where Are We Headed?



Well it looks like the market pulled a fast one on us today. My count has been updated and I believe that we may have finally arrived at minute v.

Microsoft, Amazon and American Express are all trading lower (disappointing earnings/revenue/etc) after hours as of this writing. This should affect the market tomorrow and may be the catalyst for a cool down from this monstrous run up and sets us up for wave 'b'.

We ended the day with what appears to be an expanded flat with Wave 'c' in progress. However, this potentially may be the reversal that sends us lower in a 5 wave impulse.

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