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To: The Freep who wrote (86237)	11/20/2003 8:38:14 PM
From: Shack	Read Replies (1) \| Respond to of 209892

You summed it up for me. A iii or c, but at the very least another wave down to match the first. I must say there is enough talk about the "coming low" that I have the door wide open for something larger.

To: The Freep who wrote (86237)	11/20/2003 10:15:11 PM
From: skinowski	Respond to of 209892

S+P. It made that new high last week (......) it could either be the start of 3 down, or maybe just a C down. Either 11/17 or 11/19 lows are acceptable as a completed little impulse; i like better the latter. The advance towards today's high was corrective, no matter how you slice it. (And this is important, because it rules out some bullish scenarios). Today's fall was very hard and decisive, and it reached new lows. If (IF) this was the first (1) leg of a 3 or C down, then there is still room for for a grind upwards from here (W.2), which would relieve the oversold situation. BUT - if the market rallies above today's high, then we are in woods which are too dark for me to navigate. I'd have to step aside, I think - or turn bullish. Opinions? edit - I should add that by today's close SPX re-traced more then 62% of the advance from 10/24.