Gods of Garbage Smile on a C Wave ~ The Risk Averse Alert

Wednesday, April 25, 2012

Gods of Garbage Smile on a C Wave

As predicted, the market remains in a precarious position on the short coattails of AAPL's 9% surge, while AAPL's prospective crash appears only the more likely on the heals of such a volatile, one-day move in the stock's price.


Whether the Elliott wave count above holds up is a prospect made more likely by underlying technical conditions whose deterioration across the board reveals just how precarious is the market's current position. Anticipating a hard turn south, you really couldn't ask for a more favorable backdrop. Thus, today's lift and any follow-through appears but a "c" wave higher, unfolding in formation of a 2nd wave of five waves down. A 3rd wave down from April 1st peak could begin to unfold before the end of the week.

Fast Money
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