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To: Henry J Costanzo who wrote (136573)	9/19/2006 9:10:15 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

Come on, MC.... Ever since the June bottom there wasn't a single high on SPX which didn't get overlapped by a consequent pullback. That's hardly the description of an impulse. I agree with you that in the wiggles it looks like we may see a new high - and above 1320 this will become even more likely... but 3/5? Can't see that. However, as I type, I realized that there is indeed a very bullish count hiding in here.... I don't like it too much, and it would be far from being my favorite, but in interests of objectivity, here it is: Imo the advance from the June low could be a passable Leading Diagonal. If that's the case, it should be just about over, and ready for a pullback. C'est possible. But I still think that more likely than not we'll have a test of the summer lows.