Ewj: elliott wave

Hmm

Can not rule this out after its failed to bust that swing 896.5 high....

Always the last option labling triangles but its becomes a factor if the lesser 1:1 @ 885 gets busted...

see what you think...

15min ES
 

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OIH is right on 21-day support here at 93.50
If it breaks this level, its down and dirty to the 40 day MA which is coming up thru 90.

June Crude now off $1.52 to $57.10
 
CNBC reports:

That the CRUDE / SPX correlation is as follows:

50 points in SPX = $7 in WTI Crude Oil

Could easily see June WTI trade back down to $55.00 for the .382 and $53.40 for the 50% retracement from the mid April lows at $46.72 up to the recent high at $60.07
 
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