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Monday, August 24, 2009

P2 Update

I count nine waves up. One possibility is a P2 top. So I labeled the chart as if it was the top. It did hit my P2 target range of 1032-1044. It would be an unassuming ending wouldn't it?

However it may only be Minute [i] top. Or Perhaps Minute [iv] is playing out and p2 will peak a bit higher later this week.

One thing for sure is that I think there is more risk vs reward holding longs overnight versus shorts.

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