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Friday, August 15, 2014

Elliott Wave Update ~ 15 August 2014

Today's midday dip closed two open up gaps.  Very convenient.  The wave structure has reached a point where if it is [3] of iii of (v) of [v], then a strong upward push should occur in this area.  Its getting interesting.
The best bearish count has prices collapsing downward in a third wave down and breaking the parallel uptrend lower channel line.

The overall count, once again, calls for a nominal new high in the SPX and probably the Wilshire5000.

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