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To: jaker who wrote (8447)	9/7/2008 2:29:30 PM
From: skinowski	Respond to of 41419

LOl! I like your labeling - WTF is a very apt description... ;) I look mostly at SPX - the simple view is that March was the low of an impulse off the top (namely, 1 or A)... May top was the end of 2 or B... May decline was 1 of 3(or C) down... July-Aug rally was 2 of 3(or C). That's bearish in the short and intermediate terms -- but so far, like it or not, there is little reason to think otherwise. If the situation changes, we'll change the tune.

To: jaker who wrote (8447)	9/8/2008 11:46:29 PM
From: skinowski	Read Replies (3) \| Respond to of 41419

July rally still looks like a three-waver. So will look the decline into last week's low - if (IF) 1303 gets taken out. Let's assume it does - What formation is it that tends to start as a double three, followed by an impulse towards - or beyond - the extreme of the first move? Exactly! - a Flat. Can't help it... all this "If"-ing reminds me an old Southern saying - If the frog had wings, he wouldn't bump his a$$ every time he jumps... :)