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Friday, February 17, 2012

Elliott Wave Update ~ 17 February 2012 [Update 7:45PM]

Update 7:45PM: Breath Thrust flashing divergence
Wilshire 5000 at resistance.
On the lookout for a megaphone pattern which could indicate that momentum is about to come to an abrupt halt. This is the shape of the market that took place at the 2010 top.

Dow Theory is flashing red warning signals. Non-confirmation at three differing degrees is a perfect setup for a 2012 top.
And a closer picture of the transports shows a major reversal today.

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