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For what it’s worth, we took profits first thing Thursday morning and I doubt we will re-enter positions in the stock market until the February employment report.
Wednesday morning we get inflation figures for Europe – everyone will be watching for signs of deflation.
Gary, I found you recently and I think you are great – a big help! I’m an old Elliott guy and I think we could be in the final wave, a diagonal triangle. You know, five waves zigzag between two converging upward trend lines. Wave 1 started at the Oct low, and here we are starting the last wave 5. I only write because of the perfect drop down yesterday to the trend line and the nice turn around this morning. One diff with Elliot – when this tops, that’s it – down for a long ways.