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Friday, March 23, 2012

Elliott Wave Update ~ 23 March 2012

There is a serviceable 5 waves down on the Wilshire5000 and S&P500.  The fourth wave triangle helps the cause:
SPY has some unclosed gaps:
Bigger Wilshire picturre:
SPX weekly. Bubbles.
Even bearish DOW theory is still intact: Transports failed to make a new closing high versus its early February high:
VIX seems uninterested.
Oversold we are not:
Even the e-minis had 5 waves down, albeit with overlap.

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