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Tuesday, May 12, 2020

Elliott Wave Update ~ 12 May 2020

Our wave (2) high stills holds.
Yesterday's ending CPCE (the data is updated late in evening) was very low at .50 . Amazing considering that the price peak of (2) was still in place.
Yesterday's closing Breadth chart (data is updated late in evening). I compared the Zweig Event with the recent event from the March 2020 low.  There was/is no robust follow-through to this recent event.  This is good supporting evidence that its wave (2) and not something else.
The overall bigger picture:

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