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Friday, November 13, 2009

Elliott Wave Update ~ 13 November

Well an honest interpretation of the intraday squiggles agrees with a Minute [v] in progress and today I have it labeled as a subwave (i) and (ii). So that implies Monday could be a wave (iii) of [v] up.

But the weaknesses in some of the sub indexes are glaring. So we would not be sure what kind of label to place on any new high if it were to occur.

There are many reasons to suppose any new high would be a "final" high. There likely exists reasons for any new high to be merely an A wave of a final intermediate zizag to P2 peak.

And if the market fell apart come Monday, we wouldn't be surprised. But since its most anticipated, I suspect it may not happen.
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