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S&P 500--Thursday, May 14, 2009

090513-1600-sp1hr-a.gif
In this pattern, the decline last Thursday, May 7, is seen as the first (A) wave of a 3 wave correction. The recovery on Friday, May 8--with a slightly higher high--is the B wave. The lows yesterday were 1.618 times below that initial A wave low.

Posted by Pure Guesswork on May 14, 2009 10:23 AM |

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