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Wednesday, December 29, 2010

Elliott Wave Update ~ 29 December

Again, we have enough of a wave structure to consider Minor 5 complete. Indeed down to the Minuette level, we have more than enough squiggles.

But we still need to a meaningful decline that breaks key support (for now I'll call that 1246ish) and an impulse pattern down to confirm. So we'll adjust as necessary and let the market ring itself out as it must.

Intermediate (C)
Perhaps I shortchanged my NYAD count and didn't let the Minor 5 run high enough.  

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