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Thursday, April 3, 2014

Elliott Wave Update ~ 3 April 2014

Primary count is an extended wave [v] of 5.  The Wilshire chart is shown below for superior waveform. The SPX would be in the same count and the projection of [v] of 5 would be about 2000 SPX.

This is all dependent if support holds of course. In the SPX if the market can manage a solid close under 1848 - 1850 SPX, then the bulls are in danger of loss of serious support.

Best guess squiggle count is that the market will close the open gap at around 1870 prior to taking off to reach its final subwaves (iii), (iv) and (v) of [v] of 5 of (C) of [Y] of cycle wave b.

There are 2 additional open gaps up that exist under then 1870 area.

There are numerous ways to count this latest uptrend squiggle wave and it may not be over. Working with what we have so far.

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