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Wednesday, July 14, 2010


Current thoughts. I am following my count from yesterday. I think this might be a B wave, which is slowing down the price action and allowing the indicators to roll over. If we see a slow move tomorrow up to 1100-1105 on negative divergence, I will feel much better about this wave being done.

VIX is saying it is time to start looking for a drop.

Larger count. Would love to see some larger negative divergence on the 60 minute charts.

The Aug 104 SPY Put is also looking like the market wants to ponder topping here :)

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