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Bill,
Here is how AGET EW sees it. Attached is a daily chart which indicates
we are likely in a corrective wave 4. The 60min shows the breakdown of
minor 4 to 5 of wave 3 daily. It also shows a corrective pattern going on?
At this point I will wait for the 5/35 on the daily to get to zero then
watch to see if a buy signal is given indicating wave 5 up is happening. The
deeper we go the less chance that will happen and that the count may
change.
Buy signals could include the crossing of the 6/4 MA channels or a
regression channel break on the 60min with add on's when/if it follows through
on the daily. For now I am out of the market other than for very short term
trading patterns/scalping in bonds. If a meaningful low can be determined at a
fib retracement level, I ill likely first sell puts which will be held and
start long futures positions which will be traded.
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