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I wrote Friday that “if an impulse is underway from 10763, then this level (10481) should not be reached. The objective is below this week’s low – the 8/11 pivot low at 10113 is of interest.” The entire Thursday-Friday advance has been retraced and focus is on the mentioned 8/11 low. Keep in mind that with 5 waves possibly nearing completion from 10763, the probability increases with each tick lower that a corrective advance will get underway towards 10400.

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