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Tuesday, January 14, 2014

Elliott Wave Update ~ 14 January 2014

After today's upward thrust, and utilizing proper EW theory and wave counting guidelines, the best count may be something like this:
Yeah it sucks if your a bear but the 3rd Zweig Breadth Thrust event (since 2009) that happened a while back is still carrying market momentum upwards in fulfilling the final minor wave 5. That implies that wave (iii) of [v] of 5 will again produce upside surprise.

For the bears its going to take a key break of near term support levels to gain the count in their favor. It just hasn't happened yet and until it does, we have no bear count.
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