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Monday, August 17, 2009

Falling Wedge Alert

The e-minis all-hours forms a nice flat. Looks like a falling wedge pattern that might rebound. Some positive divergence starting to show on the stochs.

Is that all the correction for Minor B? Maybe, maybe not. But regardless an "X" wave up at the least should be coming and then another "three" would form in a "double three". Similar process like the 956 to 869 correction.

The huge 6 point gap down is a target the bulls want to make a stab at I would think.
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