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Sunday, April 30, 2017

Sunday, 4/30/17 update

We're back to where we were several weeks ago in the ES/SPX with two possibilities apparent.  Those are that Minor W3 off the election day low ended at the Mar 1st high as in the 1st chart below or that Minor W3 is still in progress with Minute W5 of that move underway as in the 2nd chart below.  Under the 1st option the market should turn south in the area of the Mar 1st high (2401 in the ES), under the 2nd the market should blow past those highs.

NOTE: dotted lines show potential EW structures and are not necessarily accurate price/time forecasts
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