chainik,hard to say definitively but thats the way it appears to me. btw, just as a point of reference, the ndxbp 10sma is now 60.4 while at the july/oct bottoms the numbers respectively were 26.6 and 17.8; there are also a few other indicators with similar readings. doesn't mean we can't bounce at any time but i believe it's pretty clear thats all it would be until further deterioration in sentiment is evident. LEON