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Friday, December 11, 2009

S&P 500 - Three Peaks and the Domed House





I saw George Linsays chart-formation some time ago and as I was trying get all the small waves to ad up I saw the comparison.

Unfortunately it doesn't it help us alot, as what this formation tells us, is that no. 28 should go back to the starting point of no. 10. In the best case we need one more drop to 1,084 and then what ?

I don't know, but a break below 1,084 could open up the downside for a move closer to strong support near 1,042 and very important support at 1,029.

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