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Thursday, October 3, 2013

Elliott Wave Update ~ 3 October 2013

Top squiggle counts:
Today's Investor's Intelligence Bull?bear ratio via Sentiment Trader:
The bears have scattered to the wind. Incredible considering the real dangers facing the market due to social mood.
US dollar public sentiment. This survey was dated 1 October. 
Dollar is therefore in excellent position to rally when sentiment hits extreme which it is close to being. Technically, the neckline shown on this chart is a big deal if broken over if the dollar can rally eventually. It will be bullish in a nutshell. Major support at 78.60 and it might take a move to that level.

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