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Wednesday, August 10, 2016

Elliott Wave Update 10 August 2016

On the short term squiggles we may have a 5 wave move down or will shortly tomorrow. At any rate the squiggles appear to be impulsive down since the recent peak.
Minor waves 1, 2 and 3 seemed a bit forced at the moment.  Wave 3 is way shorter than 1. If that is the case, wave 5 must by EW rule be shorter than 3. Perhaps Minor 3 will crush upwards as the strongest wave. But for now we'll keep the wave labels and and an eye on the micro squiggles such as the 5 minute chart above and watch key wave price levels along with underlying technical strength.
Inverted yield curve within a few months?

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