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[tsharp]

it's been said that top pickers get splinters under their finger nails, and bottom pickers... well you can probably figure this one out for yourself. i'll just stick with my system stuph, which is still short from ES 1217.50 as of today's close. we did get the consolidation today, which i suggested yesterday that we would, but then also dropped to new lows. if tomorrow sees new lows again, then the bottom of this move could be no sooner than friday's session. i've added percentage bands around the pbma (pit bull moving average) lines on my model chart (3% on the left chart & 2% on the right chart), but they're only added as a referrence point, to display relative extreme ob/os conditions, and neither extreme condition exists at this time. i've also updated the weekly spx EW chart, as the speed and depth of this decline sure makes me suspect that this c-wave (imho) could be completed all in just this week's trading, but as i've suggested before, we'll need to see what develops on a day-to-day basis. great trading to all! --tsharp (charts attached)

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Edited by tsharp, 05 January 2005 - 05:23 PM.