JRI: Does the September 14, 2004 occurrence fit with your definition of a corrective phase if lows were made in mid August on the NDX? How can one temper results against an unknown variable? For example, can't one argue, at least for now, that we are in corrective "up" phase up on the NDX? Anyway, snapshot theory says we had one of these readings yesterday during a time where the market was registering extremes just like the ones at the January top.
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