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To: pater tenebrarum who wrote (53678)	7/29/1999 11:30:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 86076

Heinz, I see that, the tick was just over -1000 if it were -1300 or higher that would increase the odds that the DJIA would hold the .618 level. I don't think so with the tick not really blowing out. the NASD fibo level is 2550 which is under it's 50 dma. Credit spreads continue to blow out and that is just a bad thing to happen for equities.

To: pater tenebrarum who wrote (53678)	7/29/1999 9:40:00 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 86076

heinz, P&F agrees with 10,500 being a critical support level. Next stop would be 10,100 after that, and then 9100. DJIA gave a P&F sell signal today as did the SPX. Support for the SPX at 1305. NASD was already on a sell signal and almost gave another. Also the main P&F indicators are almost all negative. The main indicator hasn't given the big "bear market" sell signal yet, but it is close. Pretty scary out there. JXM

To: pater tenebrarum who wrote (53678)	7/29/1999 9:48:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 86076

>>>John, the Dow just visited the 0,62 fibo retracement level at approx. 10760 and bounced off it... if this level falls, 10,500 becomes a must hold level<<< Heinz, i am trying to update my oex chart and having trouble with the file, which i'm titling "line in the sand", i had drawn an inverted H&S pattern on oex, with a target that was met on 7/19, the correction bounced off the baseline of the inverted H&S today and the lower 20 day band - a 50% retrace off the move from late may, while i believe the pattern will fail the bulls have one last shot a bring this thing back from the abyss. the dju is breaking down, must pay attention to djt to see if it breaks, many may poo poo Dow Theory, as many may poo pooing breadth indicators these days, but one would be stuck on stupid to ignore. bb