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Dec 13th, 2010: Update 3 – Afternoon

Posted by pugsma on December 13, 2010

3:20 pm EST:  During this wave iv-(5) retrace the SP-500 must remain above the wave i-(5) peak of 1240.02 to keep the wave v-(5)  target of 1251 in-play.  So we may get test of the 1240/1242 gap  going into the close.  Any break-through the rising wedge lower support line and then the 1240.02 level would signal this wave up is likely over.

SP-500 5-min chart real-time link: http://www.freestockcharts.com?emailChartID=84014831-dac9-4159-a5ae-998fbbe5b7e9

SP0500 5-min chart (3:15 pm):

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