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To: Perspective who wrote (9043)	10/22/2008 4:24:04 PM
From: skinowski	Read Replies (1) \| Respond to of 41419

So far the triangle is going textbook.... Today's SPY low is only 1 point above the low of 10/16 (presumed Wave "b"). Today was a strong Wave "d", with a bit of an overshoot. The market needs to rally tomorrow - in Wave "e". It may run to the trendline, or it may fail... in any case, taking out today's lows following a bounce would be "diagnostic" for the 5th (of whatever) speeding up down. Otoh, if it just turns right down and takes out the 10/16 low, the triangle theory is kaput. Same if the rally takes out the 10/20 top. It these cases, something different is cooking.

To: Perspective who wrote (9043)	10/22/2008 4:47:17 PM
From: skinowski	Read Replies (1) \| Respond to of 41419

I don't understand all this chatter about supporting prices of houses. Housing is still expensive, it is probably still near the upper band of the historic ratio of house prices/av. family income. Young couples cannot afford to buy a house. How much good is that? Prices are still in a bubble - and SHOULD come down.