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Friday, July 24, 2015

Elliott Wave Update ~ 24 July 2015

Its my birthday Sunday :) Looking forward to the weekend.

Prices are getting precarious for the Ending Diagonal Triangle count. The DJIA is teetering on a breakdown.
NYAD suggests the market is in fact breaking apart. A bit of a break in the long-term channel line.
Note the Alt count. If wave 5 has topped in an ED pattern, then there will likely be some swift downside coming. A break beneath Blue 4 would be bearish.
6 month:
Channel lines.
Global Dow clearly under the trendline.
If Gold has further to fall, I suspect it finds support at the $1033 - 1045 range.

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