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Tuesday, August 10, 2010

S&P 500 - All demands are meet

Whether the decline was a Leading diagonal or we saw the first impulsive decline end at 1,041.32 (the Alternate count) all demands to the following corrections are now meet. If we saw a Leading diagonal, then the A-B-C zig-zag correction has now fulfilled all demands with the small new high at 1,129.23 and a turn could be imminent. If the decline from 1,219.61 to 1,041.32 was the first impulsive decline followed by a expanding flat correction all demands are meet here too and a turn to the downside should be imminent.

The only question back is whether we will see the last minor rally higher towards the 1,136-1,140 area or not? The next decline should be very dynamic and fast.

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