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Wednesday, May 25, 2011

Elliott Wave Update ~25 May 2011

The top bearish count of a series of one's and two's down still remains intact. The next leg lower would be a "third of a third" and should result in the most intense selling pressure since the 1370 top. I bumped up the wave degrees one notch versus last night's chart.
And again, the best overall bullish count (multi-month that is) is some kind of Minor 4 triangle and that we are in a complex [c] wave that may not yet have bottomed.
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