Arik, that was my read also, that the move up in the nasdaq at the end of the day was a countertrend 4, it could continue into Monday morning.
Some angles to think about.
The angles of trendlines on the nasdaq run-ups of October 97, April 98, July 98 became increasingly vertical through each phase.
The angle of the run-up from October 98 is only a few degrees off the angle of the July blow-off, and look at the length of the run -g-
While AOL made a new high when the nasdaq did recently others (yhoo, cmgi, amzn) in this market leading sector did not.
During every other peak these guys have peaked early and come back to make a double top when the rest of the market peaked.
Titanic, Hindenberg, Chernobyl, P&F BP, Killer Coppock Wave, Double Superbowl Sell Signal -g-
Right now I believe the high in April will be a lower high, time will tell.
bb
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