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Wednesday, 5 September 2012

S&P500 E-mini Futures H4 Update

The first count is all about breakout to the upside for the last wave up to finish the Double Three upside corrective pattern as wave Z that I have found on R.Pretcher  "The Master Works of R.N.Elliott " book (page 175).

Second count assumes wave Z is finished and now the price is in some sort  of mixed up triangle pattern  as a wave 2 and we are waiting for a breakout to the downside from that triangle. Fibo Time Cluster resistance might be helpfull here: no higer high was made during the cluster period.

As usual, time will tell.

Seb



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