Friday, July 29, 2011

XAO Short term update

It looks as though the end of wave C has still been unfolding as a larger triangle - from this post: "however there tends to always be a challenge with triangles and how they play out" - hence the formation over the last few weeks indicates a larger triangle has played out as the end of wave C down.

This larger triangle should have now ended and must not fall below 4508 for the short term count to be valid - a corrective push up to the 5000 levels should soon commence. The count from the previous post could still play out - but either way, a push higher is now the required short term view.

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