shortterm, Thanks for the detailed response. I agree with your analysis. I trade the intermediate trends and don't have the time to be a day trader. In additional to all that you said, Ted Burge has resistance for the Nas 100 at 1710, which is where the Nas 100 was rejected today. Until it breaches 1710 and holds, looks like we are still in the channel. If this move is the beginning of the next intermediate trend, we will know soon enough.