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Tuesday, May 1, 2012

Elliott Wave Update ~ 1 May 2012

DJIA new recovery high today.  S&P lagged. Wilshire5000 lagged.

Industrials could give us a clue where we are in the wave count. Since it recorded a new high, most likely we are trying to spot the top of wave (iii) and spot a wave (iv) consolidation.

Finding the top of a wave three also agrees with yesterday's NYAD count
Wilshire5000:
Bigger picture:

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