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<span style='font-size:
12.0pt'>Hi group,
<span style='font-size:
12.0pt'>
<span style='font-size:
12.0pt'>Looks like a slow night. I'll get it started with my EWT interpretation
of the SPX. It looks to me like the market is tracing out a contracting triangle
defined by waves a,b,c,d,& e. Waves a,b, & c are already complete I
expect wave "d" to be completed tomorrow near the 809-810 range. I
am then looking for wave "e" to break through the upper red channel
line, and peak in the 857-862 range on 10-9 plus or minus one day. This would
complete the wave "iv" correction and the market would then
continue with the strong down trend to complete wave "v" of
"3".
<span style='font-size:
12.0pt'>
<span style='font-size:
12.0pt'>In practical terms the market will likely be very choppy until wave
"iv" is completed. I am looking to let this move play out, and then
go short when the 9-26 high of 856.59 is taken out. As for my interpretation of
the EWT wave structure bear in mind this is only one possible count for the
current wave structure. I have chosen it as my preferred count because it
matches my own work, which calls for a high turn to occur on 10-9 plus or minus
one day near the target range of 857-862.
<span style='font-size:
12.0pt'>
<span style='font-size:
12.0pt'>Good trading to all,
<span style='font-size:
12.0pt'>E
<span style='font-size:
12.0pt'>http://groups.yahoo.com/group/snpforecasts
<span style='font-size:
12.0pt'>
<span style='font-size:
12.0pt'>PS: Please forgive my poor charts. I have to use MS word to do my
annotations. It makes for a sloppy looking chart.
<span style='font-size:10.0pt;
font-family:Arial'>
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