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Wednesday, March 30, 2011

Elliott Wave Update ~ 30 March [Update 8PM]

[Update 8PM: There are a myriad of reasons why this is not a P[3] UP. This chart lists some of my bigger sticking points but certainly I would love to hear more reasons - I ran out of chart space.]
[Update 6:42PM: Squiggle count was fun to do today. Not sure if the last segment hit its high today or not.]
[Update 5:03PM: Another look at the SPX count using the 30 minute chart.]
Primary count is Minute [iii] of Minor 5 of Intermediate (C) of P[2] topped today at 1331.74 or will shortly tomorrow a bit higher.

A Minute [iv] pullback to test support and perhaps close the gap would seem to be in order. Minute [iv] target range is 1313-1319 SPX.
Wilshire in Non-log scale
Log Scale:
A Zweig Breadth Thrust was not triggered today. A move from under .40 to over .61 was required within a 10 day window.  Today was the 10th trading day.
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