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techcharter

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techcharter

Re: gettin-smarter post# 33870

Tuesday, 05/13/2008 9:56:46 PM

Tuesday, May 13, 2008 9:56:46 PM

Post# of 51808
Gettin Double Zigzags

A double zigzag occurs in a corrective wave where lesser degree wave A and are zigzags.

In Gold. The trend from the March '08 high has been corrective. At first I thought a double zigzag was forming.
Wave A = March '08 high to March '08 low.
Wave C = April '08 high to April '08 low.

With a weak , overlapping, rally out of the early May '08 lows not breaking the upper trend line of the correction, I have shifted my priority that the correction is a triangle. Today's drop starts Wave E. The price should briefly break below the $846.40 level within the next 2 weeks before rocketing higher.

http://stockcharts.com/h-sc/ui?s=$gold&p=D&yr=0&mn=6&dy=0&id=p75635173805
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