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Tuesday, November 22, 2011

Tuesday, 11/22/11 update

Buy signal on SPX/Vindicator, went long ES.

Elliott pattern on the ES has been very difficult as of late, but it looks like the correction that's been in progress since Oct 27 could well be over as of today's low at 1179.25. A 50% retrace of the October rally is at 1178.75, pretty doggone close to today's low.