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Technical Analysis for the Serious Market Technican!
Contributors to FXStreet.com
Tuesday, May 10, 2011
Russell 2K Diagonal ?
A few days ago we postulated that many markets had the overall look of being in a 5th wave ending diagonal. If the recent low can't be broken quickly that is becoming more and more a possibility. If that's the case then we could be setting up for a move to a new high if this low holds. Albeit, it'll be a terminal high. Either way, the near term action will determine what we should do. Let the market show its hand. Mark
Monday, May 9, 2011
Russell 2K
The active Fibs on the Russell also act as a great proxy for the ES's. This is presently active and it looks like the next pop could afford a selling opportunity if we get s secondary lower high! It appears to be in a 4th wave presently. Mark
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