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Wednesday, November 16, 2011

E-minis

There is a triangle forming. Question is, which way will it ultimately break? I give the benefit of the doubt to a continuation triangle that breaks to the upside since the previous trend was a strong updraft from the 1074 SPX low and the market triggered a Zweig Breadth Thrust signal. Thats the simplest way of looking at it as it stands.

Possibly the (e) wave is forming its own triangle:
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