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Monday, March 8, 2010

Building a top

Tight trading range, sideways drift today.  No new information.  5 waves up can be counted at today's high, although it's an awkward count.  One more push up of 9 points or so after this small consolidation would fit better from an EW standpoint.  So if we didn't see a short term top today, one is not far away both in terms of time and price.  Still in cash on the sidelines, haven't seen an opening as of yet.