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Monday, April 23, 2012

Elliott Wave Update ~ 23 April 2012

Pivot support has held - at least for today. Since the bear count is shown here, I figure it would be more useful to imagine a bull count instead.

Bull count would be a complex corrective. It could be over or it has more corrective work to do.

A break under the previous pivot (w) would be bearish price action.
Wilshire 60 minute chart. Not yet decisively breaking the uptrend channel. If it does, I believe the previous uptrend can be confirmed to be officially dead. But it hasn't broken it just yet.

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