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Wednesday, September 25, 2013

Elliott Wave Update ~ 25 September 2013

There is a prominent short-term support neckline that has developed in the Wilshire5000. It has nearly 6 touch points so likely the market deems it important upper level support.

If the neckline holds, we will probably get a very nice price rebound. If the neckline breaks, selling should intensify and the price decline of the past 5 days should, as a minimum, at least double. 

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