Jan 13, 2011

SP 500

As long as the price continues to climb,  the ice under our feet becomes thinner and thinner at the same time. 
I come up with a slightly changed wave count, see the chart below. The price just touched 1287, which suggest lateral track for the rest of the session. The scenario stays valid- projected target 1304 . Better to stay away while this last wave unfolds.
We'll have almost 30% rise since 7/6/2010 if 1st Major finish around 1304-1315.
Good luck trading!


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