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EWP on the DOW & S&P 500

The high on 3rd January was expected to be strong resistance. This has proved so by holding that high until Friday last week. The DOW on Friday has moved above the MAXIMUM permissible level for this count; however, the S&P has ample room to move up to the top of the RED RECTANGLE. The issue that now needs to be resolved is whether a NEW DIRECTIONAL MOVE has begun, or is the index in some form of TOPPING PATTERN. The leaning towards a topping pattern is based on four

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