LC_Jun 25, 2012

1. The structure labels remain the same, R-4 trading is still in place, and LC is still expected to correct down to 1.35 levels
2. Today's bullish harami candle, while low in reliability, may take LC tomorrow to 1.45 to 1.47 levels, creating wave-b; watch the "kiss" of the 66.68 RSI
3. This is consistent with the character of wave-b: it is usually more complex and more time-consuming than wave-a which was a monowave
4. The breach of the lower 2-4 trendline (I didn't bother to show it for a less cluttered chart) supports our thinking that this correction is behaving more like a triangle rather than a flat
5. Taking a position in wave-c again may be prudent in case this correction turns out to be a flat and not a triangle