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Friday, March 6, 2009

Missing 9th wave?

The market is due for a bang-up rally. But these charts show some potential unfinished wave 3 of (5) business. Here is the deal: Any move over 700 SPX would be market bullish and would invalidate this wave count. On the same hand, any move under 675 and you can expect new lows to come. Why? If this was the true rally, it wouldn't be giving up 50% already and wouldn't slip back under support (675). Volume will be key and watch premarket....

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