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Tuesday, August 30, 2011

Elliott Wave Update ~ 30 August 2011

Primary count is still Minute [iv] of Minor 1 of (1) of P[3] down. 1228 is a possible target.
A look at the daily shows that 1220-1227 SPX has been a resistance area twice.  Makes a good Minute [iv] target range although this market always seems to push things to the maximum in either direction. So upper range for Minute[iv] would be the underside pivot at 1235 SPX approximately.

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