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Monday, May 13, 2013

Elliott Wave Update ~ 13 May 2013

No change in the short term outlook or wave count.  Best count is that Minute [iii] of Minor 5 has peaked and prices are in some kind of sideways Minute [iv].
There was an interesting ED pattern that played out intraday.  An ED pattern at this stage would be labeled wave [v]. However, its suspect for now but I present it because the internal structures count really nice.
But like all triangles, we tend to label them too early. Perhaps this:

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