Option Investor
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The market is pushing to new daily highs and so far it fits as the 5th wave for the move up from Tuesday. This actually does not fit for the DOW which had a lower low on Wednesday (meaning Wednesday's low could not have been a 2nd wave pullback). The DOW has also not made it back up to last week's high, which could be bearish non-confirmation at this point. For the short term it makes the picture a little less clear but watch to see if SPX can make it up to the 857 area. That could then be followed by some profit taking.

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