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Wednesday, November 24, 2010

Elliott Wave Update ~ 24 November

Calling yesterday's low a (b) wave price low of Minute [b] has worked out already using just the Wilshire5000.  The Wilshire made a higher move which we could label wave (c) of [b].

I guess you can say we have an inverted H&S pattern but its not textbook and the target is higher.
Hourly
SPX hasn't confirmed the move higher.

Last night I showed an example of a Minor wave 4 downward flat.  Tonight I present the triangle.  Minor 4  depends of course that the market hold decent support as it has so far.
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