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Saturday, April 22, 2017

Saturday, 4/22/17 update

The sideways grind continues in the ES/SPX but indications are that we're close to the end.  The pattern since the Mar 1st high looks very wedgy, the ST chart below reflects that in the form of a triangle.  There are other possibilities of course, but this seems the most likely IMO.  But I've been wrong before.  Sometimes this type of pattern resolves with a final steep plunge before wrapping up, so caution is warranted.


Intermediate term chart:


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