wednesday wonderwall waterfall, page-30

The real danger is the EW count.

If the 2007/9 decline was 1 or A, then the 2009/10 rally was 2 or B.

The Apr/May decline then 1 of 3 or C.

The rally into Jun 21 then 2 of 3 or C.

That makes the decline of the last week as part of 3 of 3 or 3 of C.

That is a dangerous place and the move can be persistent and often characterised by a large move in the centre.

If we get a 1 day jump I wll be adding more shorts.