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Thursday, August 20, 2015

Elliott Wave Update ~ 20 August 2015

Every index seems to be aligning to the downside. Key pivot levels have been closed under by nearly every major index.  The SPX closed under the key 2040 support and it had been the strongest to hold up.  The DOW has closed beneath 17000 and lost some 1350+ points since its May 20th peak.  
Market breadth is also aligned to the downside. A lower low on breadth, there is not currently any positive divergence here.  
Gold is bouncing as the wave structure has called for

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