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Monday, December 28, 2009

E-minis (Updated 2:33pm)

The bigger picture looks like this on the NASDAQ. And hey it hit 2295 exactly and that is where C = A using the price low of B....

The channeling on the NASDAQ is pretty decent and should provide some valuable markers. Nasdaq finally went red after 6 days of trading.  Closed gap 1 of 6....up move starting to wane which is what should happen.

Proposed wave count for Minor C.  Good news for bears is that the top of [iii] may be reached soon.  According to this count, the market should tread sideways a bit. The blue box area is key to the whole formation.  In theory, if this count is correct, the blue box area should remain at least partially open until the top of C plays out.

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