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Wednesday, March 20, 2013

Elliott Wave Update ~ 20 March 2013

Possible leading expanding diagonal.
Regardless, 5 waves is either complete or nearly so:

Couple of examples of extreme sentiment readings (came out today) via Sentiment Trader
Rydex ratio:
Bearish % of the Investor's Intelligence survey:
Combined elevated sentiment with extreme overbought on an intermediate scale (weekly)
Indeed now overbought on an even longer term scale (monthly) and nearing an expanding triangle upper trendline:

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