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To: skinowski who wrote (9764)	1/3/2009 8:03:08 PM
From: Galirayo	Respond to of 41410

>>Looks like SPX wants to test next levels near 1000, doesn't it... << Message 25204893 Yes it does .. And in addition to that .. 1060 .. 1075 ?? or 1090 ?? siliconinvestor.com So what's the Validity of the Count in a 4 Up .. if it reaches these targets ?? Any Violations of EW Theory ?? Or .. Are We Creating New Theory as We Type ?? Message 25294874 The 1st post of the Search was this one ... Message 25204011

To: skinowski who wrote (9764)	1/5/2009 2:56:56 PM
From: Perspective	Read Replies (1) \| Respond to of 41410

That was quite a little Santa rally. If SPX1000 is the top, or at least A top of significance, we're getting pretty close. I guess I need to be careful. Kinda got volatility shock last year. It's still an 8% move from here. However, we're now almost two months into this rally, which is about as long as any prior rally within this bear. Of course, it comes off a level that one might expect to produce the longest correction of the bear to date. Unfortunately, I had a chunk of my hedge involuntarily taken off last week, leaving me partially exposed (short) to this rally. Not as planned. A wiser man would have immediately replaced it, but I foolishly let it go thinking I would clean house for the New Year. Of course, I have yet to find the time to do so. I briefly had the opportunity to reinstate the hedges with a small gain for my efforts. The market was testing some support at the time, and it looked weak enough I thought I'd sit tight. Dummy! I think the primary failure of the market right now is the failure to appreciate the feedback loop that has engaged. The first leg featured a financial crisis that precipitated an economic downturn. However, the market appears to have forgotten that economic downturns produce financial damage of their own. The sentiment has improved enough that it is probably nearing time to lean against things here. Should be interesting to see how the rest of the week goes - after the low volume rally we've had, I would actually expect to see the big boys weigh in with some selling. Sector rotation is also likely at this time of year. Maybe time for retail to come back under pressure? `BC