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To: bill meehan who wrote (21316)	2/24/1999 3:05:00 PM
From: John Pitera	Read Replies (1) of 86076

Bill, I think it's hard to over estimate how bearish this break of the 5.42-5.45 is for the bond market and by default the equity market. the straight edwards and Mcgee measuring implication for the ascending triangle that the yield has penetrated today at 5.42 would have a measuring implication of 6.10-6.15%... that would even have Garzarelli's model below 30 and in a market sell mode. 6.15% should provide a 12.5 to 17.5% correction in the stock market. just a thought

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