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Strategies & Market Trends : The Millennium Crash

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To: bobby beara who wrote (3274)	8/31/1998 7:36:00 AM
From: Arik T.G.	Read Replies (1) of 5676

BB, >>I believe wave one down was completed on the 8/11 low on the SPX I agree. >>From 8/11 on the SPX you can make a five count wave which would be and ABC-A BC for a three count countertrend rally - WAVE 2 There was a lot of outside interference (noise) from global and domestic events that made this correction a little aukward, like on Friday the 21st. The abc reaction was complete on the 25th (I was off by 1 day siliconinvestor.com >>I believe we are nearing the process now of completing WAVE 1 down of 3 My thoughts exactly. >>which means the selling will accellerate (especially in the tech bubble NDX) from here (especially after the next corrective wave 2). I agree to the letter. >>So that means we will have 2 more impulse waves down after we complete this wave probably Monday morning. I say Monday afternoon, maybe Tuesday morning. >>My analysis hints to me that the coming correction will surprise both bulls and bears in it's magnitude and intensity. But not us superbears. We'll be ready. >>We have broken 200 dma and uptrendlines in a parabolic market and past history tells us that this results in big foobar. Yes indeed. To follow in step with the classic crashes ('29, Hang Seng etc.) today is supposed to be a one day correction before the BIG selling starts (3 of 1 of 3 of 1). That selloff should take us down for 4 to 5 trading days in a row, each day down harder then its predecessor with the target for Tuesday the 8th between 5300-7200 Dow, SPX 660-900. This could be the big one. A once in a lifetime event. If it's ever going to happen, then it's this week and the next. ATG

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