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S&P 500
5,567.19
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1.06%
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US TECH 100
19,828.00
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0.95%
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Dow Jones
39,375.87
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techcharter

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techcharter

Re: None

Monday, 05/03/2010 10:38:04 AM

Monday, May 03, 2010 10:38:04 AM

Post# of 51808
Last Week SPX Intraday E-wave

Last Monday high into Tuesday low was clearly motive.
Last Wednesday low into Thursday high looks more corrective than motive.
Last Thursday high into Friday low looks motive.

Since Friday's low did not come close to taking out Tuesday's low, I'm counting the Thursday-Friday selloff as a smaller degree. Today should be a smaller degree correction compared to last Tuesday-Wednesday's rally.

It looks like a large wave 1-2, small wave 1-2 situation is developing and more downside later through this week.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=spx&time=&freq=
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