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Friday, May 21, 2010

E-minis [Update 3:20PM]

[Update 3:20PM: The wave down from peak reminds me a triangle leg, wave d to be specific. A triangle makes sense after a hard fall, and in a wave four position, as prices try to rebound but selling is not yet finished.]
[Update 3PM: Intra-day was a 3 wave zigzag from 1055 to 1090. Therefore new lows would complete a 5 wave pattern for Minute [i] of 3.  Then perhaps a rebound to the 200 DMA at 1100 area sometime next week to from Minute [ii].]

Any gap up has a good chance of being covered.
To get the lower studies in one pane, check the "superimpose lower studies" under the settings/general tab.
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