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Friday, April 8, 2011

Elliott Wave Update ~ 8 April 2011 [Update 5:25PM]

[Update 5:53PM: Taking a stab at the 30 year yield count]

[Update 5:25PM: An even more detailed count of Minute [iv]. Its accounts for every zigzag.]
[Update 5:17PM: Looking at the squiggles yet again I really like the expanding triangle for wave [iv]
[Update 4:39PM: Updated GOLD count. Blowoff in progress on all commodities (and dollar in reverse).

For those that also subscribe to EWI (and I am one) I have had this count light years before they did as this is one of my oldest charts posted publicly for well over a year.. And it seems to be panning out.  Target is the trendlines perhaps.
[Update 4:33PM: Oil appears to be extending its wave 5 of (C). Commodities this is typical based on fear-driven blowoffs.  Waves 1 and 3 were about equal in wave (C) so that also supports the extended wave 5 of (C).  This is also happening in gold.
Still too early to abandon the Minute [iv] count.  I tweaked the squiggle count again.
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