3. The short covering was impressive heading for the full moon in Taurus in 4 days. Wave A down was exactely half way of the expected 10% down. Rydex went up to .80 from .62 within 2 days thats basically good for the second wave down - starting on Monday or Tuesday next week. ISEE is in neutral territory around 1.30 and many other sentiment readings do not cry oversold yet as Inv. Intel is at 48.3 bulls and 22.5 bears we have rather potential for more downside confirmed.