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Monday, June 4, 2012

Elliott Wave Update ~ 4 June 2012

Although today ended relatively flat, trading was still leaning toward the sell side. The NYSE ended the day at only 35% up volume ratio and a 41% up issues ratio. The NASDAQ fared better at 56% and 50% respectively.

The S&P again closed under its 200 DMA.
Primary count. Missing a small wave (v) of [v] at least.
NDX Daily. 5 waves at least.
Transports confirmed the mid-May move by the Industrials to the downside. 

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