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Friday, May 30, 2014

elliott Wave Update ~ 30 May 2014

Lots of interesting charts tonight.

Wilshire monthly and weekly:
SPX weekly:
Potential DJIA ending diagonal triangle. If its is that, then after it completes, guidelines of EW theory says prices should collapse by at least 1000 DJIA points for starters. Should be fun.
Gold's wave "D" . Sentiment is low expect a sharp rebound up for wave "E".
Dollar hanging tough after all these years.  Its the bonds you need to worry about first.  
Speaking of bonds, 30 year could use a new low to complete a large primary impulse pattern.
6 month chart makes for a nice bull flag.   Breaking resistance would be a big deal. If short term interest rates spike, its game over. The FED knows that. They are desperate. The market will win. It always does in the long run. You all know that too.
VIX falling wedge?
BPSPX ongoing negative dirvergence

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