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Friday, July 30, 2010

E-minis [Update 2:37PM]

[Update 2:37PM: Probably my top bearish count of course if it follows though to the [C] target area.]

No new low yet overnight. Four hour candles trying to hold the line.

AAII sentiment survey strengthened considerably. Fresh data today:

And here is that data in chart form.  Long term chart courtesy   At least its not bearish which means we are ripe for decline. The amount of correction seems appropriate for a Minor 2 and it is one of the things I have been patiently awaiting for.

Dollar looks like a double bottom and possibly beginning an impulse. I think indeed, screw GDP, Minor 3 may be on.

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