PRETZEL_MID_TERM On 10/22/12 now says bottom = 1422-1397 or bears take over. This EWAVER sounds like a trend follower. IMHO . stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=7&dy=0&i=p44585925402&a=280799386&r=9793