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Monday, June 15, 2009

I'm expecting a zigzag for Intermediate B so I'm indicating one more small wave to finish Minor A. I'd like to see that happen tomorrow to confirm that this is an impulse wave. I'll also feel a lot more comfortable once we pass 912, but it's definitely looking like this count is working out.

Minor B should be a three count, and then five more down to 845 for a 38% retrace of Intermediate A. The minimum retrace would be 20% which is about 900.

The EUR/USD is in a similar wave pattern, so keep an eye on this for an indication as to what the SPX will do tomorrow. If it holds below 1.3860 I think we will be OK.

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

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