Tuesday, November 1, 2011

XAO - Short Term update

The corrective wave '2' appears complete. It has taken a little longer than anticipated - the fifth wave failure at the termination of 'b' shown circled initially threw off the count of the final leg up to complete '2'.

The XAO cannot drive higher beyond the end of '2' to remain valid in the short term. Expecting plenty of bears.

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