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Tuesday, February 8, 2011

Elliott Wave Update ~ 8 February [Update 6:05PM]

[Update 6:05PM: One reason I am speculating a very hard turn down is that the US markets are diverging with world markets that more or less trade in lockstep. For instance Bangladesh has crashed a few times along with Egpyt's market just to name a few off the top of my head.  Another market worth noting is how India's Nifty Index seems to be in a Minor 3 down and the US markets are still making new highs.

We had a reversal of that situation in 2007. Not sure how it will all relate but its interesting.]
We are piling up evidence for Minute [v] of Minor [v].

More or less we have a target window for the SPX. 1333 should be unique resistance perhaps.
The Wilshire's 38.2 and 61.8% Fib markers align perfectly with [i] and [iv] if the start is placed at the orthodox beginning of Minor 5.  That yields a [v] = [i] just overhead.
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