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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: steve from ihub who wrote (135764)	8/17/2006 9:07:33 AM
From: skinowski	Read Replies (2) \| Respond to of 209892

I think, Steve, you sort of answered most of your questions... ;) As far as a reversal to the dark side goes, looking at SPX since mid-June we see a series of higher highs and lows, which is the definition of an uptrend. We need to see - for starters - a lower low, which would be a trip under the August 10 bottom. From an EW pov, bears need to see a decline which would consist of impulses to the downside, with corrective-looking rebounds. I doubt that we have seen the seasonal and 4 year lows. Conceivably, the rally since June may even reach new highs before a (Wave C) decline to new lows. I do not expect new highs right now, but if that happens, I'd look for something very bullish come Oct-Nov.