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Monday, March 31, 2014

Monday, 3/31/14 update

Today's rally blows up the short term flat count presented in the weekend update.  However, since the Mar 7 top the moves have been of 3 wave form in both directions, so until an impulse is generated the odds are that a corrective process is still underway.  That correction is looking more and more like a diagonal of some sort.  Here's a couple of ideas.

Alternate #1

Alternate #2

The long term count underlying the 2nd alternate is one last presented in January:



Both the short term diagonal counts are invalidated if prices continue the uptrend of the last two days and move above the Mar 21 top at 1876.75.
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