Friday, May 11, 2012

XAO Short term update

The long drawn out stucture on the XAO does not appear to be a double 3 correction from what has transpired, however the recent declines may provide some further clarity on the short term wave count. It's possible that a double flat correction may have ended and the declines (in a 5 waves) may be a significant indicator.

The next week or 2 should provide clarity...if major near term support regions are broken then a significant leg down may b underway.

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