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To: bill meehan who wrote (53651)	7/29/1999 10:28:00 AM
From: John Pitera	Read Replies (2) of 86076

Bill, the dollar continues to set new lows against the yen. Interesting that the past 75 day correlation for the long bond is that close to the spring of 1987. The DJIA (-160)is now about 30 points below the 50 dma and the SPX is right on it's 50 dma, the nasd is still aways above it. The trading action so far today is unconstructive for the bulls.

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