Wed 7/31/2013. Mid-day Update.

Stop raised to 1683.40 on long position. Will be raised to 1686.39 if 3PM forms a higher hourly close. Possible EDT-looking formation into 1697+ completing the move from 1560, but those formations can just as easily turn into nested 1-2s with a wave 3 of 5 breakout. If we don't find out a direction from 1700ish by end of day, we probably will know at the Thursday open. Good fortune.