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Thursday, January 12, 2017

Thursday, 1/12/17 update

Tough market to read this week.  Very much a correction in progress, very unlikely that this is the start of a sustained bearish move.  Current count has the ES in a Minute W4, the short term chart below suggests a flat type structure but it could take another form.  If this count is accurate we should resume the march upwards in a few days or so (if we haven't already).

Hourly chart:


Daily chart:

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