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Friday, January 21, 2011

Elliott Wave Update ~ 21 January

The expected new DJIA high has come. But perhaps the market needs to see one more DJIA high to fulfill a final 5 wave pattern.
Of course the rest of the market would diverge in that case as it did today.

Primary count for the Wilshire 5000 and more or less the SPX and COMP. This cannot be a 5 wave up pattern as wave three would be the shortest. So I labeled it the best I can see for now.
Alternate count.

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