Thursday, June 24, 2010

Market Timing Update (6/24/10 Close)

[4PM stocks] The current leg of decline is likely approaching its end. The squiggles shows the top scenarios. Given the deep retracement and the wave structure, one has to give serious consideration of one of the following two scenarios playing out
[1] Wave 3-down in a P3-type of sell-off has started at the June high.
[2] The market is going to new highs and the current pullback is a second wave retracement
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