On Aug 1, 2011 : The (Y) of the WXY can very well be a triangle.
The preferred count for Primary Wave 2 Up is that it will be a WXY double zigzag.
The first ABC zigzag off the March 2009 lows completed at 1344 in Feb 2011.
The preferred count for Primary Wave 2 Up is that it will be a WXY double zigzag.
The first ABC zigzag off the March 2009 lows completed at 1344 in Feb 2011.
Next is a Wave X down, about 20% correction. Usually Wave X can be expected to be a zigzag, but we may have an expanded flat here.
Followed by the second zigzag up, which would then complete the P2 in late 2012.
This article from Chris Martenson makes the case for the next Wave X down, and then QE III, which could accompany the second zigzag up.
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