Buyers was able to keep the Dow that has only 30 component stocks above the lower support line but the S&P 500 has punched through the lower support as shown below.
The punch-through with a gap is even more glaring for Nasdaq. Finally it can be confirmed that we are at wave 3. We are in fact in wave iii of (iii) 0f i 0f 3, still a long way to go, hopefully we can see the bottom by December 2012.
Wave 2 is uaually the last chance for the hardcore bull to get out before the very damaging wave 3 runs wild.
STATISTIC
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