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To: Henry J Costanzo who wrote (169067)6/18/2008 2:00:39 PM
From: The Freep  Read Replies (2) | Respond to of 209892
 
Did I say anything about "bear"? I have only said that this correction has been called done a lot.

As for an impulse...

stockcharts.com

The weekly SPX isn't hard to count as in impulse off the October high, is it? In fact, if your count of a summer 2007 high is correct, then that HAS to be an impluse down to be a C wave, yes? So... imagine it as an A wave instead. OR imagine it as a 3 wave move down into January with the March low a B wave and the May high a C up. We'd now be doing a brother down to the October wave.

I'm not saying it's where we are. We could have hit the low in March as you say and are pointed back up. I don't see a ton to support that other than sentiment and possible counts... but there are equally possible bearish counts.

Anyway, there's your impulse down that, in fact, is necessary for your very own count, isn't it? What am I missing....