Monday, May 23, 2011

Short Term XAO update

The XAO came close to invalidating the current count today and may still do so tomorrow. In the first instance, further declines will imply a correction of higher complexity unfolding (eg a triple zig-zag correction) down to the 76.8% retracement levels.

Pushing higher now will leave the count unchanged and today's pullback would be considered a wave '2'.

The multi-year view is here and the very long term view is here.

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