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Monday, April 27, 2009

SPX Top Alternate Count


As I suggested in my update tonight, the markets could be tracing some kind of "X" wave triangle pattern. Though in the long run, its not much different in scope to what I have currently labled but it does allow the markets to make new highs and make unusual moves. Thats the nature of triangle waves. They tend to trace complex corrective patterns.

And they can take longer than a straightforward corrective or impulse.
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