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techcharter

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techcharter

Re: None

Friday, 07/27/2012 9:18:46 PM

Friday, July 27, 2012 9:18:46 PM

Post# of 51788
Clear E-wave in Spanish IBEX

A flat has been forming since early June 2012.

Wave a: Zigzag - Early June low to Early July high
Wave b: Zigzag - Early July high to Mid July Low
Wave c: Motive - Mid July Low to present in wave 3 of 5

Target: 7000 within 5 days.

A long position could face a 20% loss if not exited in time. Instead, don't go long. Wait for the end of Wave c, then short. Cover below 5700 when a motive wave has completed. Then go long for a 15-20% rally from a larger degree corrective move.

http://stockcharts.com/h-sc/ui?s=$IBEX&p=D&yr=0&mn=6&dy=0&id=p84410658795
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