Thursday, September 1, 2011

XAO Short Term update

It's been a long time coming.....

The current wave up is being interpreted as a wave '2' for the reasons outlined in the chart. A break below the trend-line is anticipated very soon. The XAO cannot go above the end of wave 'E' in the chart as this would invalidate the short and medium term views. We therefore have a very defined scope of where the index is allowed to go before breaking specific limits one would put in place to manage risk.

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