AP_Jun 27, 2012

1. AP still a bullish Double three: a flat - X -triangle. That didn't change, and our TP remains the same
2. AP is no longer at a critical crossroads: it has decided to go on the bullish path
3. This is confirmed by the two critical conditions we mentioned in the previous posts

• AP must reach 34.45, and it did, thereby invalidating the bearish R-4a and finally concluding the last leg of the triangle on 6/15/2012 as we suspected
• AP must breach the 50 RSI, and it did last 6/26/2012. RSI now sits convincingly at 62.109

4. The wave from 6/15/2012 up to present is wave-i of the impulsion after the Double Three: t's most likely wave-i of wave-3
5. Due to R-5a on wave ending 6/15/2012, we expect the current wave-i to go up to this range:

• 34.45 to
• 36.59

6. Thereafter, we expect a correction to form wave-ii.
7. In classical Elliott, wave-ii can retrace wave-i by as much as 99%, but in Neo Wave, wave-ii usually retraces wave-i by 61.8%. wave-ii Neo Wave Retracement guide:
38.2% = 33.56
50.0% = 33.075
61.8% = 32.585