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Monday, May 10, 2010

S&P 500 - Is was a Triangle, but it was a B-wave Triangle


My Triangle call from yesterday was not a wave 4 Triangle, but a B-wave Triangle within a big Zig-zag, which is currently ongoing. I expect wace C to reach the 1,170 - 1,175 area before turning down in wave 5.


Because of the spike down Thursday last week, we could see a truncated wave 5, but it's way to early to say anything concrete yet.

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