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Wednesday, August 10, 2016
Market Timing Update (8/10/16)
An impulse wave in SP500 from its Brexit low looks mature. It is unlikely that so many outstanding gaps can remain unchallenged for long. See Chart 1. A successful retest of the 2100 would be welcome for the uptrend.
Chart 2 counts the pullback from ATH as a completed five, while Chart 3 counts it as a zigzag or an incomplete five.