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July 27th, 2010: Update 2 – Morning

Posted by pugsma on July 27, 2010

10:20 pm EST:  Wave 3-iii-(3) hit 1121.  I’m favoring a wave 4-iii-(3) consolidation triangle here between 1105 and 1121, before 5-iii-(3) makes and attempt to cross 1121 and head towards 1131.   Note, there was  a 3-day consolidation traingle between 1110 and 1125 back in late Feb 2010 during the run up from 1040 to 1220.  Also, note that there is a statistic out today that the DOW-30 has NEVER had 4 consecutive triple digit gains.  And yesterday’s 3rd consecutive triple digit gain was quite rare.

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