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June 29th, 2010: Update 4 – Intra-day Afternoon

Posted by pugsma on June 29, 2010

3:45pm EST:  I believe we are putting in the wave 1-[C]-P2 low today.  One thing to watch for here is if this new low of around 1036 holds up and we start to bounce back above 1040 and then 1050 over the next couple of days, it’s very posibble that we’ll have a very large positive divergence between a lot of the key technical oscillators (RSI, MACD, McCellan) and price from the 1042 low back in early June.    This could set the stage for the wave 2-[C]-P2 rally back towards the 1080 to 1100 area.

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