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Hourly chart shows additional Fibonacci relationships to Elliott Waves discussed in daily analysis . Today's low represents the completion of the 4th wave in the initial impulse off the lows. A long-term investor could buy in the subsequent pull-back to SPY             180s. Alternately, wait for a possible visit to the 170s. Confirmation of a significant low comes with corrective pull-back and break-out above the coming high at which time long-term investors need enter long positions.
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