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Thursday, March 21, 2013

Elliott Wave Update ~ 21 March 2013

Every indication is that a third wave down is coming taking prices well under (i)

One impressively overbought market. I should have labeled these 1 degree lower as you'll see in the second Nikkei chart. Its too time consuming to go back and lower the wave labels so I'll leave it as it is for now.

But the main point is the entire mess fits nicely into a shallow sloping corrective channel that is labeled 3 waves overall.
Long term shows a differing degree than the one above but the idea is the same.  Indeed channeling long term too.

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