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June 11th, 2010: Update 2 – Intra-Day Morning

Posted by pugsma on June 11, 2010

10:30am EST:  There is some early strength after the first back-test of the broken channel line at 1077.   I expect there could be another back-test coming later today or on Monday for wave ii-(3).   The targets are 1076 (38%), 1070 (50%) and 1065 (62%).  But just keep in mind that we are likely in a wave (3) up, so the pull-backs can be quick and shallow.

SP-500 15-min chart real-time link: http://www.freestockcharts.com?emailChartID=0dd1abc0-43d3-49ba-bc2b-deb500de34e7

SP-500 15-min Chart (10:20am):

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