Stock Market Wave C Fiscal Cliff Plunge Risk

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Stock Market Wave C Fiscal Cliff Plunge Risk



Current position of the market



SPX: Very Long-term trend – The very-long-term cycles are down and, if they make their lows when expected (after this bull market is over) there will be another steep and prolonged decline into late 2014.  It is probable, however, that the severe correction of 2007-2009 will have curtailed the full downward pressure potential of the 120-yr cycle.



SPX: Intermediate trend –  SPX made a top at 1474 and is engaged in an A-B-C intermediate correction.  It is possible that wave “B” was completed at 1448.



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