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Monday, March 1, 2010
Australia Ordinaries - In the early stages of wave [C] down
After wave [B] ended with the peak at 4,983.40 we have seen wave 1 down to 4,483.30 and are currently stracing out wave 2. I do think we will see wave reach the ideal target-area streching from 4,790 to 4,893. The is a couple of gaps in wave 1, that we migth need to fill, but it's not necessary, before wave 2 is finally in place.
Failuer to overcome resistance at 4,706 and a break below 4,612 would argue that wave 2 is already done, but that is not my favored picture.
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