Largest SPX (S & P 500, http://stockcharts.com/freecharts/gallery.html?s=spx) Component XOM (Exxon Mobil) is Doing an Anemic Wave B counter trend move, see http://stockcharts.com/freecharts/gallery.html?s=xom. Also, note the bearish 88.23/88.13 double top.
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