by Avi Gilburt, ElliottWaveTrader.net
Thursday May 16th 2013
This isn't Avi -- we're just reposting Garrett's analysis so it gets emailed and archived as a Market Update, with Avi out today. Today was more messy consolidation in a 4th wave. The drop near the EOD should be the c-wave of this wave 4, currently in a minor ivth wave of that c. Again, as long as 1642 holds tonight, then we can see another rally tomorrow and possible into early next week. If 1642 does not hold, then we are most likely looking at a larger degree 4th wave with initial support at 1633 down to 1620 that should last into early next week.
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