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May 20th, 2011: Update 1 – Morning

Posted by pugsma on May 20, 2011

10:35 am EST:   Both the white and blue counts look fine as long as the 1330/1329 support zone holds up.  And both remain valid down to 1318.51.   The initial 50% retrace target of 1333 has been met, with the low at 1332.76 thus far this morning.

SP-500 15-min chart (10:32 am):

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