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Thursday, October 8, 2015

Thursday -- Rough Guide To The Proposed B-Wave

S&P E-mini Futures:
Down, but not yet impulsively.

Bloomberg reported more spooky numbers from Germany -- exports down 5.2% in August, the steepest decline since Jan. 2009. Estimates were -0.9%.

Germany's trade surplus shrank over 60% in July alone.

And in Japan, August core machine orders fell 5.7%, the third consecutive monthly decline.

Meanwhile, the BOE kept interest rates at a record low.

JPY and CHF stronger, potential warning to equities. GBP understandably weaker on BOE rate decision.

WTI crude and NG higher today.

Gold and especially silver giving back recent gains as copper falls.

S&P Outlook:
Liking the B-wave scenario more and more.

Here it was from 9/25:

Here now:

As always, don't use these charts for timing or actual Elliott labeling. These are rough guides only.

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