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Thursday, June 12, 2014

Elliott Wave Update ~ 12 June 2014

Updating the charts presented last night.
The 1915 - 1926 target range mentioned last night for wave (iv) of [v] has already been met. However it doesn't look completed if this is wave (iv). Not enough time nor does it count as a three.

The "rule" is that wave (iv) cannot enter the price range of wave (i) of which the orthodox top is 1884.89.  However wave b of (ii) actually exceeded that at 1902.17. So in reality any further pull back really shouldn't be heading that low for it to be a wave (iv).  This count would be highly suspect if it had pulled back as far as 1900. If it does, then consider the cycle wave b count complete.
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