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To: Shack who wrote (123361)	8/26/2005 2:40:05 PM
From: skinowski	Respond to of 209892

SPY's just did bounce into the territory of yesterday's range, but seem to be quickly running out of oomph... If they reverse back under 121, then (in the wiggles) things may not be ready to run.... yet, anyway.

To: Shack who wrote (123361)	8/26/2005 3:08:56 PM
From: skinowski	Read Replies (2) \| Respond to of 209892

$MID has a very clean short term chart, so, basically, I keep coming back to it. On the hourly it shows a series of declines, impulsive looking ones, but with overlaps, and they must be either a series of 1's and 2's -- or, setting up a wedge. The implication here is that the bears are ALSO running out of time. Either the decline accelerates soon, or it will run out of steam, and degenerate into something range-like... or more wedge-like. In any case, this is an interesting juncture.