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Thursday, October 15, 2015

Elliott Wave Update - 15 October 2015

Perhaps a regular flat or an expanded flat for wave [b] of 2.  We'll see what tomorrow brings. An example of price action for an expanded flat would be tomorrow would gap up in the morning and then reverse fairly quickly and selloff somewhere into the [b] wave target box outlined below (maybe taking a few days to get down there).

Note that price action is bumping up against the blue channel line again. Seems important.
Gold finally broke over a significant downtrend line.

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