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Tuesday, July 31, 2012

Elliott Wave Update ~ 31 July 2012

Little impulses to the downside versus corrective waves up since the 1391 top.
Overall picture using the Wilshire 5000 for form. Note the alternate count could be labeled a double zigzag or not. Its basically the same structure though either way which is why its labeled "[a] or [w]", etc.
NYAD weekly. Doesn't the RSI look ripe for a major decline?
China could be breaking under support:

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