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Weekend charts 6-20-09


Up projection shows it'll try for 938.50, I doubt it.

It is against the deadly (swing high) bounce of 893.00 to 889.75(1 bar, 2 bar projections). The 78.6% retrace is at 888.50 since the whole down move to 18 May.

We still have not completed our AB=CD pattern at 100%(977.50) since the 9 Mar low. To do that we need a down leg to 893.00 to make another AB=CD pattern with C=893.00 to the 977.00 area.

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