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Friday, November 27, 2009

Elliott Wave Update ~ 27 Nov

The chart above pretty much shows the options. Don't get cynical LOL. Yes I got it all covered but thats what EW's is all about. There could be further bounce on Monday upwards and then it could eventually run into resistance it cannot handle and reverse down in a big way. Or big money could come back in first thing and dump.

Or the e-minis could be dumped Sunday night or runup depending on how Europe is feeling.
I have no clear option for the squiggles just yet and the e-minis will have to give us a clue on Sunday night as they themselves only rallied in 3 waves so far.

So a series of 1's and 2's counts best for the bearish count which means we have yet to see all hell break loose.

And if it doesn't break loose its just another ABC that ended Friday or will early next week....

The technicals all point bearish and lots of nasty H&S pattern on subindexes also like the RUT.
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