JQuery Slider and Content Above the Fold
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I dont know if anyone can give you a correct answer on this, i did read that it is not done by where you content is in the code, but where it is positioned.
My own personal opinion, is that you will be ok, as your first slide has text, but thats just what i think.
to be safe i would make the affect smaller and get some static content in there.
i have seen a lot of CMS site that have the image affects taking up almost all the area above the fold, there i would say you would have trouble.
here is the tool for testing