The Big Picture: Aug 5, 2013

Just a reminder, I’m on vacation the next three days and will be back Thursday morning.  Since no one’s looking, though, I’ll just slip in a few quick thoughts about where we are and where we’re going — big picture stuff.

I’ve operated under the assumption that SPX will complete the big Butterfly Pattern at 1823 — or die trying — for quite some time.  Recall, this was set up by the reversal at the .786 of the 1576 to 666 drop.

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