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Tuesday, May 31, 2011

My long term view of an important bottom in place at 76.99 is working well. Wave 1 ended at 85.54 and wave 2 most likely ended at 79.55. From 79.55 we saw a Leading Diagonal as minor wave i and minor wave ii just ended at 80.69 and we should now see the powerfull wave iii kick of. A break above 82.23 would confirm that wave iii is in action for a rally towards at least 83.37, but more likely 85.04.

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