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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: http://www.marketwatch.com/story/investor-sentiment-gets-hotter-in-july-2010-07-30

And here is that data in chart form.  Long term chart courtesy http://www.sentimentrader.com/   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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