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July 30th, 2010: Update 3 – Afternoon

Posted by pugsma on July 30, 2010

2:10 pm EST:  If this mornings move from 1088 to 1104  was a wave i-(3) impulse, as it looks like a 5-wave impulse, then this afternoons drop to 1094 (62% retrace) would be a corrective wave ii-(3).  If the 1088 level is going to hold up, then this correction really needs to stop here at around 1094.  Otherwise we are likely not done with this wave (2) correction and a low under 1088 is coming around the 1081 area.

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