Friday, January 7, 2011

Triangles & More Triangles

The market keeps on throwing up triangles.  For true elliott wave triangles, these are always the last corrective pattern before the final impulse at the next highest degree of trend.  Given this, we know there will be an end to this.  My take is that either the market has already topped, and we are just waiting for the inevitable drop, or we will see one more new high before the correction begins in earnest.

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