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Tuesday, June 30, 2009

Elliott Wave Update ~ 30 June (Update - Squiggle Added)


UPDATE, 7:30 PM: Added a squiggle chart. Just looks like a bunch of zigzags.

Going to keep playting this one little wave at a time. Today moved just as I mapped: peaked between 929-931, retrace back to 914 area. The hard drop surprised even me it looked like a waterfall.

So the retrace back up from 912.86 is probably almost peaked unless a more complex corrective unfolds. The waves up look corrective so another move down in either a (c) wave or a wave (iii) should be coming. Downside targets are 902 for starters then 892, just above 888.

So either a small zigzag is tracing out down from today's 930 peak or something more bearish. I won't try and guess what it will be other than I will play this one subwave at a time.

So far its working pretty good. I'll throw in the squiggles later.

5 comments:

  1. Nicely done...curious- have you cashed out your remaining IRA? (Remember that you took some off around 940ish.)

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  2. Yes DP, a while back above 910

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  3. Dan, do you expect a pop up early in the morning before (c) or (iii) because its a bit oversold?

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  4. daneric. great job and thx for ur charts and analysis.

    could we be seeing a double zz in progress. perhaps wave X just completed today at the top of 930.01 and now we begin a new abc move down.

    if this is a 2nd zigzag from the start of 956.23 (6/11), i have the 2nd zigzag ending near 888 if it were .618 of the 1st zz and 862 if it were 100%.

    what do u think?

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  5. Grand yes I agree I just posted on the double zizgag. Very good!

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