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To: Defrocked who wrote (69654)	10/18/1999 4:14:00 PM
From: re3	Read Replies (1) \| Respond to of 86076

a mere 222 posts for me to catch up on <g> since this morning...hope it was fun... ike

To: Defrocked who wrote (69654)	10/18/1999 10:22:00 PM
From: John Pitera	Respond to of 86076

Def, we saw very little that would make this the climax phase of a market downturn so we most likely have not seen an intermediate term bottom. a few technical notes. Today's Open 30 trading index closed at .917, the lowest most overbought trading index since July 16 of this year, although it was close on August 25 with a reading of .918. Do those two days of July 16 and August 25 sound familiar? They should. One was the all time high close on the S&P (July 16); the other the all time high close on the Dow Industrials. Is that amazing? The Open 30 trading index shows that the trading index readings today were where they were at the Dow and S&P all time high closes. That should be bearish. What we noticed most of all is the denial that both Dow theory and 200 day moving average tell us that we are now in a bear market.