Friday, May 7, 2010
Possible 4th Wave Triangle
Just a quick midday note: if you look at my count in yesterday's post you'll see we should be in a wave (iv) today and so far it appears a triangle might be forming as you can see above. If correct, when the triangle completes wave 'e', then it will thrust sharply lower in wave (v) to beneath yesterday's lows of 1066. To keep this triangle count a possibility, 1138 cannot be broken, but preferably the 1129 level will remain intact.
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