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Market Update (NQ), 2009.07.20

20. July 2009
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Weekly NQ: W2 is approximately 0.618 of W1.  W3 is exactly 1.786 of W1.  We are currently at a 50% retracement of W3.  On to new lows from here?  If so, target of 773 (as shown below). 

Also note that the 0.618 retracement level lines up with the bottom of W1.

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