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Sept 15th, 2011: Update 1 – Morning

Posted by pugsma on September 15, 2011

10:35 am EST:  Here is a quick look at what I believe might be happening with the 5-min chart.   The drop to 1188 yesterday could have been wave iv-(5) and wave v-(5) of minor A finished up at 1204 this morning.  In which case the minor B corrective down to the 50% retrace target of 1170 could be underway the next few days.

SP-500 5-min chart (10:27 am):

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