I'm considering the April-July 2010 pullback in the SPX and INDU to be Wave B of the corrective bounce out of the March 2009 lows. Such a count would top out with the November elections. So a little more rally, a small pullback, One final rally then the market rolls over.
One comment about social mood this weekend- the significance of the NYC mosque protests shows an increasing divisiveness among society. This means underlying mood is accelerating in the negative direction. The financial markets shouldn't be too far behind.
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