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Chart of the Day:
S&P futures are trading higher, away from the lows that were reached in the past week.The market is now trading in a Long, red wave a leg, which is the first wave of larger, black corrective wave II). The current wave a may find its highs somewhere around the 1105 zone from where a small, Short corrective wave b should appear. Once a wave b) is complete, a push higher towards the 1120 zone with the wave c leg will be expected.
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