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Friday, December 4, 2009

SPX Squiggles

The SPX was about the only index, major or minor, that made a new low in the second push down Friday. That includes the Wilshire. It seemed to make a point to make a new low. Is that done to just confuse wavers? Beats me, but I'll take the bait and count it as a 5 wave move all the same. Its not a textbook move by any means, but it works ok.

I kind of have a theory that at tops, the waves transition from corrective to impulsive and vice versa. This is because some subindexes are in corrective mode while others have yet to top perhaps.

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