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To: sitkapacific who wrote (131898)4/18/2006 1:36:15 PM
From: skinowski  Read Replies (1) | Respond to of 209892
 
Agree that so far the rally looks like a backtest of your broken support lines. However, the possibility of an SPX Flat starting from the highs of mid-March is clearly on the table. Note that this current rally in the wiggles is impulsive, which suggests that there may be more to come.

Re - the "larger rally" (to which I am so far not committed).... One of the possibilities could be one mentioned in the post below. THe extent of such a rally could be rather limited.

Message 22353852



To: sitkapacific who wrote (131898)4/18/2006 1:43:09 PM
From: skinowski  Respond to of 209892
 
Another thing.... As of this hour it is still possible that the down impulse which bottomed yesterday was not a C of a Flat, but a "fresh" one, like in 1 or A. It is still possible to see today's rally potentially morphing into being a sharp correction - maybe a zigzag. But, frankly, the time is running out. It needs to come down pretty pronto below 1291 on SPX (under 1700 NDX) for that to play. So far there is no sign of that.


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