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Monday, December 9, 2013

Elliott Wave Update ~ 9 December 2013

Waves are getting sloppy. That could indicate that an ending expanding diagonal triangle is forming (although imperfect at that). This count implies a new high in the Wilshire5000 and S&P500 and then quick price reversal to the downside.
Bigger picture shows that if this is an ending diagonal triangle, there will likely be a swift selloff of at least 800 - 1000 Wilshire points very swiftly.  Ending diagonals indicate exhaustion.
The other count is that this is merely a deep wave (ii).  In that case wave (iii) down is coming.

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