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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8936
Posted: Feb 22, 2010 5:00
Comments: 8936
Forum Topic:
Gold, Oil & Indices (Equity & Bond Indices)
Discuss Gold, Oil & Indices (Equity & Bond Indices)
I see your 1348 logic but having got there the 78.6% level becomes a major magnet. Out of interest for future ref the 161.8% ext of wave 1 up from the 2nd July low is at 1364 from the wave 4 low on 19th Nov.
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I guess if we are talking in real terms, then yes, SPX will fall back beow the low of 2009. But in nominal levels this low will not be 666. IMO