Thursday, April 30, 2009

S&P 500 Update

Yesterdays move above the April 17th high on the S&P 500 has invalidated my previous wave count. My updated count moves the wave 5 high to April 13th. The market has been showing good strength which I think will continue for several more weeks as waves 2 thru 5(or B,C) complete. However, we may have made a short term top here as a possible upwave within wave 2 completes.