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Thursday, May 20, 2010

S&P 500 - Wave iii is evolving nicely

Just a quick update.

Wave iii of 3 of 5 down is evolving nicely. Today was a very negative day, but as we have just started wave (iii) of iii of 3 down we should see more downside pressure tomorrow.
I looking for a move down towards the 1,043-1,050 area before wave (iii) is finished.

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