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SP500 Weekly - shooting star


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SPXweek

The shooting star candle formed after testing the July 2008 low.
IMO, if Friday closes below the this weeks low, we will see a multi-week decline, or else the market will march towards 1250 level before declining.
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SPX-Week

Another look at the SPX weekly chart with a 5-wave Elliott Wave and a probable A-B-C correction after the 5th wave.