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Thursday, February 20, 2014

Elliott Wave Update ~ 20 February 2014

Quite the thrust in breadth although it does not qualify as an official Zweig Breadth Thrust event.  A close under the recent 18575 pivot would render it all a moot point. That is the key level for bears and bulls.

Significant negative divergence on the RSI weekly here.
It appears to be a small impulse down from the top with a counter-trend move up. That implies the next move is down again.

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