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Wednesday, September 16, 2009

We have completed a full five waves up, and hit the upper trendline, I believe that might be the top of this current rally, the only thing that makes me feel uncomfortable is that the MACD was not showing negative divergence, and some of the other indicators are also bullish, A/D, MO., and increasing volume

EDIT, after the Bell,
the trendline that has been acting as resistance has been broken, if it does not quickly reversed, that trendline will become support. I am going to work on a new bullish chart tonight, something might not be right with the counts we have going now, because this rally is starting to look like we are in the MIDDLE of a 3rd wave. The A/D ratio closed at 4.95:1 on increasing volume, and still no divergence on the MACD, these are all bullish signs!!!

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