Since the 385.12 low in mid-April 2012 we have seen a double zig-zag rally in wave X. The first zig-zag rallied from 385.12 to 513.64 and was followed by a x wave to 447.25 and the second zig-zag is currently unfolding. We saw wave a from 447.25 to 575.11 and wave b was likely a triangle and wave c is now under way towards 622 to end wave X and set the stage for a new decline in wave Y
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