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Feb 17th, 2010: One More Pop?

Posted by pugsma on February 17, 2010

4:45pm EST:  Maybe one more pop up to about 1105/10 to end this wave 1-[5]-P1 or c-[B]-P2?   That’s what the counts and charts are saying on the 5-min and 15-min time frame.  There’s a rising wedge showing that same target area.  Then a drop to about 1070/80 for the wave 2-[5]-P1 next week.   Also, take a look at the large Inverse Head and Shoulders Pattern (a la Springheel Jack’s comment) developing on the 60-min Chart.  This Inverse H&S has a target over 1160 and coincides with the Diamond Resersal Pattern targets.

5-min Chart (EOD):

15-min Chart (EOD):

60-min Chart (EOD):

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