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To: robert b furman who wrote (8485)	9/9/2008 12:17:21 AM
From: skinowski	Respond to of 41419

I try not to have a very strong opinion here, but SPX has much to prove before it can convince me that the Bear market is over and we are off to new all time highs. For starters, it will have to break above the down trendline on the daily, which at this time resides somewhere in the 1370-s. Or, at the very least it needs to get out of its downsloping regression channel (since last October). The fact that price action since July looks so much like a correction is not very encouraging for the bulls. There is a good amount of optimism out there, and yet as of today SPX took back only a small fraction of the May decline.