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Thursday, October 7, 2010

Thursday 10/7/10 wrap up

Little bit deeper retrace today which in fact turned precisely at the .382 level against Monday's rally.  The correction took the shape of an irregular flat.
 
If this count is correct we should explode up tomorrow as we are in the 3rd of a 3rd of a 3rd wave.

Both the hourly and daily Trend/Osc are in bull mode.  On the hourly Trend/Osc the Dynamic Oscillator dropped below 80 today but as long as prices hold above the uptrend line the hourly is signaling up.  If we print a new high for the move the Dyn Osc will reset and probably poke back above 80.

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