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Thursday, February 10, 2011

Elliott Wave Update ~ 10 February [Update 7PM]

[Update 7PM: Playing around with squiggles
No impulsing down yet (or really up since today's low for that matter) so we must assume the market is tracing Minuette (pink) (iv) of [v] of Minor 5.

(iv) could trace a triangle, flat or some kind of combination pattern is our best guess.
In both the SPX above and Wilshire below, wave (iii) is the shorter than (i) which indicates wave (v) must be the shortest by rule.
The DJIA shows how the wave [v] makes a very nice form. Wave (iv) may be over as a combination pattern.

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