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Friday, March 20, 2020

Elliott Wave Update ~ 20 March 2020

Updating the squiggle count, the blue box minimum target for Blue Minor wave 4 has been met. We could have some kind of Minor 4 triangle (or flat pattern) developing if the market gaps up on Monday and eventually sells off again.
The market hasn't been this oversold on a weekly basis since the great plunge in 2008. We used to think DOW 14,000 was insanely high.  We have a long way to go....

Oil.
Gold. Remember I talked about "virgin spaces" in a few posts back about how wave twos make that a target area?  Gold has a blue box area just below $500.
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