Friday, 16 May 2008

Bulls Win - Rally Continues


I wouldn’t have bet on it but the bulls have triumphed. Yesterday’s uptrending day broke the May 2 high of 1422.72. To me this implies that the correct Elliott Wave count is an a-b-c-x from the March 17 low.

The next a-b-c pattern is underway from the May 9 low. First look targets are 1450 or 1510.

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