1. 12/2/20088:13 AM Pacific
Here is an extrapolation of the theme from this morning in the SPX and NDX cash. I
believe this is the most likely scenario over the short-term based on current price action.
A .618 extension of the move down from yesterday after the completion of 3 waves up
would be the most bullish version of this scenario.
If price action extends above 866 in the SPX and 1153 in the NDX this thesis loses its
bias.