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Friday, 9 July 2010

17:07 BST - SPX Update

Well, if we did top out at today's high, this is how I would count the start the next decline:

SPX 1 min:


I can't say that the market seems like its in any hurry to drop, so caution required as to whether or not we've made a top.

Bear in mind also my update at 12:17 BST setting out the risks that the next drop may only be a temporary suspension of the up move.