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To: marginmike who wrote (134253)	7/11/2006 8:13:00 PM
From: skinowski	Respond to of 209892

On SPX, the June 15 - 28 bullish flag worked out to the upside. This last one in some ways looks pretty similar. I think more likely than not the bullish potential of the markets is not great... expected to see corrective drift up for a few weeks starting from mid-June... so far that's what it is, more or less.

To: marginmike who wrote (134253)	7/11/2006 9:05:43 PM
From: Shack	Read Replies (1) \| Respond to of 209892

How can AAPL have had a bullish flag at anytime in the last 3 months? Its been in a non-stop downtrend with nary a hint of even a counter-trend move? Not really the point mike. I re-iterate, I see no reason to believe that the SPX isn't heading back to new highs, yet again. Don't lose perspective, pull up a 5 year weekly of that index and you'll see yet another potentially higher low. The multi-year uptrend remains. I am surprised that there is any talk of a return to the bear when we are what, all of 50 points (4%?) off of 5 year highs? And above a rising 50 and 200 week MA? Yawn. Yes it was a down 6 weeks within a multi-year uptrend, as was last September, and March 2005. Why is this any different? Don't mistake my comments for any sort of bullish cockiness, if we have entered a deeper correction then so be it. But why does anyone think its happening now? I don't see it.