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This paper presents a novel real time monitor for power distribution systems. The monitor is designed to track the waveforms of interested signals during the operations including the transient processes due to load changes or faults. To detect the sampling errors state estimation techniques are utilized to achieve the best tracking trajectory to the original signal waveforms. Observability analysis for a given set of measurements is conducted by the author's proposed algorithms. Numerical results are used to illustrate the proposed tracking monitor.