The e-SPZ continues to bide time within its post-Thursday coil pattern.  However, my work argues that the pattern is nearing completion and should resolve itself to the upside in a thrust to 1230-1232. Only a decline that breaks and sustains below 1216 will morph the pattern into a deeper near-term corrective process. For now, though, I am looking for upside resolution.

MJP 11/08/05

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