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Thursday, September 16, 2010


Well, so much for our break :( This this is breaking sideways and not down.

I have an alternate count going that has this wave as a triangle. And based on the move so far today, it really looks and feels triangle-ish

So IF today is a triangle, then I doubt it is in the context of a Wave 4. This thing (especially if you look at an index other than the SPX) is looking much more corrective up. It is sharp, but the wave structure needs to be really stretched/mangled to get an impulsive count if we have more upside. So IF today is a triangle, then I think it is the final B wave of a double zigzag.

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