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To: Henry J Costanzo who wrote (134231)	7/11/2006 12:32:42 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

SPX - 7/3 top looks like the top of a wiggle impulse from 6/28... It may have been "C" of an ABC from 6/14... which, in turn, might be "all she said" as far as the rally goes, OR, it may have been only [A] of what is destined to be a more elaborate correction (which is what I am counting on). There are, of course, bullish alternates on the table... but if 1257-58 levels get taken out, that would be strong evidence that the structure since 6/14 is corrective.