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Thursday, March 8, 2012

Elliott Wave Update ~ 8 March 2012

2 days of gaps down. 2 days of gaps up. About a 72% up day on the NASDAQ and another 80%+ up day on the NYSE.

The market is again testing the 1368 - 1370 SPX spot which has been resistance.

Fibonacci 61.8% retrace on the e-minis. Still well within the realm of a wave two up.
This is the trendline to watch:

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