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Friday, March 26, 2010
S&P 500 - A slight change in my count and the Expanding Diagoanl stays
I have been working on my counts, trying to figure out a way to explain this wired moves. I was very sad when my Expanded Diagonal count got blowen away last week, but going over my charts and counts suddenly gave me the above option. This slight change moving B not only keept the Expanding diagonal alive, it also opende up the possibility for wave E to move even higher yet.
Yesterdays high could be a top, as it has taken half the time to develop wave E than wave C, but I do think it would fit the picture nicely if wave E went just slightly above the Expanding Diagonal resistance-line, but it is not a "Must".
A break below 1,152 would be the first serious sign that the top is in place.
The picture is the same for the DJI.
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