S&P 500 ~ Elliott Wave Count ~ 4 September 2014

The SPX has fluctuated around 2000 for the last two weeks and hasn't decided yet whether to continue the rally or not. I still think that a continuation to 2040 is possible. However, if 1984ish doesn't hold, 2011 is most likely a medium-term high. In that case, the market should move towards the lower trendline currently sitting at around 1930.

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Author: Patrick Eugster