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To: Perspective who wrote (131858)	4/15/2006 4:22:41 PM
From: skinowski	Respond to of 209892

$HGX - Every rally and every decline starting from July 2005 top look like "threes". Agree - the most straightforward view is that the index is in the last leg of a contracting triangle. But if it takes out the low of last month, then - most likely - something different is taking place. that might be a sign that a larger decline is already in progress. (I'm selling some RE, so another bit of exuberance would be the last thing I'd be upset about... -g) This recent post is a basic summary of what I think about SPX: Message 22353852 I think at this juncture "guessing" the exact SPX chart formation is not even the main issue... The index is overdue for a directional move - which, apparently, will start out with a neutral sentiment picture... and emotions and "convictions" will build up as we go. Will be a fun show - hopefully, with good plays.