Saturday, May 14, 2011

Short term XAO update.

The last XAO post discussed a high level of confidence that the XAO would need to decline further from a clear lack of a 5 wave upwards thrust from the corrective low. This has occurred and the current correction is on the 61.8% retracement level and it appears further declines are needed - perhaps down to the 4730 level.

Once finished, the XAO is anticipated to head to new temporary highs as outlined in this post.

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