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To: skinowski who wrote (123649)	9/4/2005 9:20:03 AM
From: skinowski	Read Replies (1) \| Respond to of 209892

if $SPX shoots up towards the mid-1220's, that would get my attention Let's quickly review a couple of wiggles... On Friday, NDX overlapped with Monday's highs. That means that the impulse leading to what (so far) is the rally high was NOT a 3, but either a C - or, 1 of 3(or C) -- or, possibly, part of a more complex correction. New highs from here might be seriously bullish... at least short term. I would go flat - or hedge - or net long - if that happens. Above considerations are even more important as related to indices like $SPX, $OEX, $XMI -- which started their impulsive spikes a day later, on 8/30. There, the question is - Did they originate from a "fresh" low - or from the point "B" of a correction?