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Wednesday, May 21, 2014

Elliott Wave Update ~ 21 May 2014

Elliott Wave International (click on my links to left to become a free EWI Club Member) pointed out the potential ending diagonal triangle wedge pattern developing on the DJIA. That is a bearish pattern.
Wiltshire is still diverging badly with the recent SPX and DJIA highs.
Gold chart is still looking good for its long term count.
6 month looks like a giant bull flag for yields.
Does the GDOW look like an impulse since the 2009 low? Of course not.  And its looking raggedy also with its diverging RSI and possible wedge action going on.
BPSPX still flashing weakness.
Wilshire weekly prices nearing its lower channel line.

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