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Sunday, April 17, 2011

Market Timing-Whats Next -April 17th - Elliott wave formation

The above wave formation will depend on where "C" closes, above 1250 is indicated, which differs from wave charts below

C should form on Monday and or April26-27th
this formation allows C to hit lows at or near March 16th @ 1250

Another formation of this wave structure would allow "C" to end below March 16th @ 1250

BUT this one does not allow the "B" wave to reach almost as high as the original top at 1344
and since we did get to 1339, that would suggest the first chart above
We should get a good idea of the markets intended destination level on Monday


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