G,I agree. "I'm positioned for .25 hike and no change in bias." Both the weekly NASI and NYSI have similar patterns to the Dec 04 and Feb 05 NDX, Mar 05 RUT tops.
So I'm bearish, although I did build a 50% cash position in my trading account Thursday based on the oversold 60 min charts. Friday I used 30% of the cash to add to USPIX and UCPIX.
I would add that PMPIX is a close track of $HUI and I see a 'cup' being formed IF the Nov 05 high of 248 acts as resistance. Looking for the 'handle' to form and a chance to take a position on the pull back.
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