Radar – Market Update – Possible Low

August 4, 2011
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All things considered, we could be putting in a low here –
1. Pattern that satisfies completed structure
2. Pretty close to 1196-1202
3. Shorts in market will want to take profits into close before tomorrow’s unemployment numbers
4. Time of day is good for a turn

However – DONT FORGET:
– This COULD be a smaller degree 5 wave pattern, where this is JUST wave 1(subdivided) of 5
– Very very short time wise vs 1 and 3
– We need to see the ESU > 1228

Even so – remember this is just a wave 3 low of a larger degree, so more downside is ultimately likely:

ESU 8-Minute w/ Wave Comparison

Picture 2 of 2

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