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Thursday, June 30, 2011

Elliott Wave Update ~ 30 June 2011

Minor 4 triangle count is what I'm primarily tracking. This counts assumes that eventually Minor 5 up will take out or at least challenge the previous 1370 SPX high,

I screwed up my [d] wave calculation. I had it at 1327 but rechecking my Fib math I should have had 1333 SPX as being [d] = .618 x length of wave [b].
After wave [d] I expect a perhaps nasty [e] wave that pulls back to at least to 1303 in a zigzag move possibly all the way back toward 1295.  We shall see. Important point is that it likely will be swift and catch a lot of new bulls off-guard.

Still holding out that the dollar may be in a giant ED pattern.
Updated NYAD.

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