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S&P 500 daily with hand EW counts. We are now at/close to levels where
market should show its true colors. Either this is a correction and decline will
complete at W.c.C target or move will accelerate (within a couple of days) into
the W.3.3 target signaling that a decline of at least intermediate strength is
underway. I suspect that the speed with which it sliced through the LT support
line is telling us it will be (at minimum) an intermediate decline.
That said, odds suggest that the easy money on the downside has been made
for the moment. I covered my short at 1201 and will re-short on
retracement.
Earl
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