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Wednesday, August 21, 2013


I have not changed the forks to make this perfect junction.  This is where I would expect a bounce,

I'm not a huge fan of Elliot Wave, but this looks like a classic 5 waves down.  If this is wave 1 then wave 2 might take the market back up to the area around 1688. 

I'm a lot less confident about making a new high at this point, but I do expect a strong bounce.

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