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Wednesday, March 21, 2012

Elliott Wave Update ~ 21 March 2012

Possible wave (iv) triangle in the works although it doesn't look like a healthy triangle due to the way the sharp break from 1414 formed the "a" wave which in fact could be five waves down from 1414 to "a".

So there is not a lot of confidence in this count.
The NASDAQ 100 and Composite both made new highs today.  The DJIA sports five waves down at the moment.  Thats an ominous sign for market bulls.
Sooner or later, Apple is going to crack. IPADS that run hotter, using up 2 gigs of allotted download in only  a couple of hours. Iphone batteries that don't last for long at all. Overpriced computers.  Buying back stock? Are you kidding me? That decision was made after hitting $600?

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