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To: hawkeyefan who wrote (629)	6/22/2007 8:41:17 PM
From: skinowski	Read Replies (1) of 656

Was out working all day... just checking in now. Looking at the SPX daily, all this recent excitement can still easily prove to be a consolidation before a rally to new highs. Below the June low of 1487 we have a potential for going further down, but - imo - this will probably not happen until after the index tries for a good bounce. Otoh, yesterday's top at 1523 is also important. If it gets taken out early next week, then the decline of the last several days will have been a "three" - and the odds would be fairly good that the bull is still OK... for now. Sentiment on SPX remains mixed... not much help there. Interestingly, as far as oil and energy, specks are turning very bullish... could be a pullback soon.

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