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November 7th, 2012: Update 1 – Morning

Posted by pugsma on November 7, 2012

11:00 am EST:  Updated 4-hr chart.

10:35 am EST:  The primary count needs to hold the SPX 1380 level for wave [4]-P3-C3.  If the 1386 pivot area is breached, then there are increasingly high odds that the 3.5 year bull market has ended at SPX 1475 as a Primary Degree Leading Diagonal (LD) for Cycle 1 (C1) of Super Cycle V (SC-V).  This would lead to Cycle 2 of Super Cycle V (SC-V) wave down to retrace targets of 1167 (38%), 1071 (50%) and 975 (62%).  This is the alternate (blue) count was shown over a month ago and is shown again on the SPX weekly chart below.

SP-500 Weekly Chart (11-7-12):

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