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S&P 500
5,187.70
(
0.13%
)
US TECH 100
17,617.63
(
0.04%
)
Dow Jones
38,884.26
(
0.08%
)
Brent Oil
82.82
(
-0.06%
)
Bitcoin
62,655.85
(
0.52%
)
Post# of 51779
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pmiles

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pmiles

Re: None

Tuesday, 04/15/2014 3:35:10 PM

Tuesday, April 15, 2014 3:35:10 PM

Post# of 51779
Well looks like the Monday move got follow through.

So:

Yesterday was probably a slightly early 10 week low. The low met the FMA target and did not exceed it. This tends to suggest that the larger cycles are neutral and that the market is still going to trade in a range.

Today has put the S&P back inside the trading range which began in early March. There have now been attempted breakouts to both the upside and downside. Both failed.

The next thing to look for is how the market behaves as it moves back up. Can it break out of the range and create a Right Translated 20 week cycle?

Stay tuned!

Peter

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