Monday, April 11, 2011

4/11 pre-open

SP futures ran up to their 30-minute M/A overnight before being turned back.
Waiting on the last of wave (iv) to finish up.  I1 peak 4/18-4/19, so wave (v) should begin by the close tomorrow.
Time is growing short according to a cycle composite that has a fair track record:
The world is far too complex for us to place faith in cycles alone, but as adjuncts they can be useful.  This composite bottoms around mid-July.

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