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techcharter

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techcharter

Re: None

Wednesday, 03/03/2010 9:08:26 PM

Wednesday, March 03, 2010 9:08:26 PM

Post# of 51804
RUT E-wave

The RUT failed to close above the January 2010 bear rally high close. The ewave count of a zigzag looks complete. The zag is an ending diagonal, but may have a small pullback and retest of bear rally highs. Exit long positions and get ready to short after the top is confirmed.

If this is in THE top, then the other markets are showing ending diagonal AND truncation. Either indicates a sharp reversal, but two structural events mean the market reversal will be even sharper and deeper. This plays into the personality of Wave C or Wave 3 being very strong.

http://stockcharts.com/h-sc/ui?s=$RUT&p=D&yr=1&mn=6&dy=0&id=p04233307151
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