Wave iii of 5 down has broken the minor channel support, which is classic as wave iii accellerates. I still expect wave 5 to end near the 1,030 area (red box). If my count is correct we should see a wave II correction higher towards 1,100 and possibly even to the 1,168 -1,170 area, before wave III down beginsThursday, May 20, 2010
S&P 500 - Wave iii of 5 down is progressing well
Wave iii of 5 down has broken the minor channel support, which is classic as wave iii accellerates. I still expect wave 5 to end near the 1,030 area (red box). If my count is correct we should see a wave II correction higher towards 1,100 and possibly even to the 1,168 -1,170 area, before wave III down begins
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