We continue to believe stocks are putting in a major low, which should lead to a several month rally, wave b-up. It is hard to tell at this time if wave b-up will be sharp, or more of a sideways triangle correction of the Bear Market from October 2007. We also believe wave 5 down is forming a Declining Wedge, which requires several more waves to completion and could take prices down near the 2002 lows, 7,197 in the Industrials over the next few weeks.

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