COMP Update: July 18, 2012

When we last left off on July 2, COMP was pointed toward a forecast of 3044 — the .886 retracement of the most recent decline from 3085 to 2726.  Since then, the slightly larger pattern has begun to look more well-formed; that is, the drop from 3134 to 2726.  This puts a Point B very close to the .618 on July 5.



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