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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: jaker who wrote (8345)	8/26/2008 11:57:05 AM
From: skinowski	Read Replies (2) \| Respond to of 41420

SPY - the decline since 8/22 in small wiggles looks like an impulse down to this morning's low. The sharp bounce which followed is unlikely to be ALL of a correction... more likely than not it should bounce more. It is not too unlikely that the market may remain neutral to bullish for the rest of the week, going into the holiday weekend. But if this thing takes out today's low - and more importantly, the 8/20 low - that would be a sign of... severe weakness.