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Wednesday, October 27, 2010

Wednesday 10/27/10 update

ES/SPX

On hourly Trend/Osc break below uptrend line dating from Oct 4 accompanied by oscillator below 80, so sell signal:

However, daily Trend/Osc still in up mode even though trading below it's uptrend line, oscillator has not broken below 80:

Eliott count shows possibilty of this being a 4th wave in rally that started in late August with a 5th wave ending rally yet to occur:

And finally Buy (green) line on Vindicator Buy/Sell at trend support level which has led to rallys multiple times since the end of August:

So a long ES trade here with a tight stop might pay off.
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