http://www.marketoracle.co.uk/Article5598.html
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Near term, if 1261 holds we should get a bounce to 1270-1275. If we break below 1260 then we will see 1240 but not before a bounce to 1260-1270 … let’s see, could be that FLY is premature getting short so quick.
E’8,
Agreed….We held 1274 for a while this morning and then we are now at your level….I feel we get one more attempt on the upside over the next few days.
Otherwise the SRS I bought yesterday @ 85.64 is treating me well.
Peace
Nice price on the SRS ….Congrats!
1261 didn’t hold so looking for 1240 tamoorah as per OEW:
“After running into resistance at the 1287 pivot as expected, the market has pulled back from the 1291 rally high, ending a small wave A. Expecting the 1240 pivot to provide support tomorrow to complete a small wave B. Then the market should resume its rally into the 1327 pivot by early August to complete this advance. Remember the pivots noted are pivots and not exact support levels. Usually the market will settle with +/- 6 points of the pivot.”
Good schtuff, hippy. It’ll be interesting to see if E8’s Elliot Wave Merlinism works out here….
E’8,
Thanx fo da update! {SIC Sentence} I like OEW….He thinks much like GW when it comes to technicals…
Jake,
The next few days shall prove to be interesting…
Wonder if these jokers can pull it off?
….Our fearless leaders that is.