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Wednesday, December 4, 2013

Elliott Wave Update ~ 4 December 2013

There appears to be strong evidence of an impulse wave (i) down. That would suggest the nature of the market has shifted from bull to bear, at least for the immediate time being. Additionally, the market retraced 50% of the entire decline so far which actually is a good price range for a wave (ii).
Still above the upper cycle channel line.

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