Today we had confirmation on all major market indices of the beginning of a new wave down.
Our previous projection for a interim top in the 1,660's was a bit short of the 1,684 on the $SPX that actual experienced.
It is still unclear, despite the call for a wave down, whether this is a wave 4 or wave "c" of a retracement just ended and now we will have an impulsive wave 3 down.
The test will be a close above the recent top of 1,684.
The market may resemble what we say in July 2011.
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