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After climbing to marginal new highs at 1241, the e-SPZ pivoted to the downside and has plunged to 1231.50 (so far), in what has morphed into a micro Broadening Top formation, which is a negative signal that a corrective period likely has started. The initial test of support is approaching along the trendline at 1229.50/00, which if violated, should trigger additional weakness into the 1225-1223 area. So far today, the AM mini Head & Shoulders formation failed to break down, which triggered a run to marginal new highs, which trapped the bulls inside of a 3-day Broadening Top formation. For the time being, as long as 1229.50/00 remains intact as the Oct.-Nov. support line, the bulls remain in control- but just barely. 11/15/05 2:20 PM ET 1233

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