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Wednesday, October 9, 2013

Now what?

Here's a Possibility if this harmonic count is an Flat that's going to be labeled a (b) wave. It looks similar to an wave 3 to 4. You can go back and see a lot of examples of this pattern since 3-9-09 bottom. You basically have a 1-2-3 peak then an a-b-c- down wave for the completion of the move.The Dow  may be finishing the- a -down soon. Then we will be able to see if it can muster momentum to pierce the cloud. My instinct tells me it'll go up into the cloud and form the -b- wave for the a-b-c. B waves are either short and friendly or they can be nasty. The Larger weekly count shows a probability based on "b" waves attract to price levels of other "b" waves. No one 'knows' whats going to happen,we just have to be aware of the Possibilities. The Blue areas are the previous larger 'b' waves. Viewing the Composite it may not get close to the depth of the Dow. A concern here is this may also be buying time for the Composite to form an 'cupola'.
www.stockcharts.com

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