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To: Gary Burton who wrote (55156)	11/21/1999 2:34:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

More on the general markets--the key as I see it is to first watch for the OEX to top out-that's the lead sled dog. Looking at the wave count of the daily OEX from the October low, I think the entire OEX move may well be over this coming week. I see it as having ended wave 3 on Nov18 and now about to do a little 4 and end with a 5 late this coming week....when OEX tops out, the NASDAQ will not be far behind and then the DJ/SP---I still think that there is a material probability that the general markets will be down in December and it is anybody's guess if they continue down in January. I think that we are getting the Santa rally and the Y2K foreign money inflow rally all in November and that it is not sustainable much longer. The DJ may or may not eak out a small new high next week. ---what this means for the oils I don't know. Usually oils are a late cycle leader late in the count in the general mkt, and the XOI had been rallying strongly until Friday. My sense is that the OSX may dip on Monday but base out above 81ish and then rally above 88 and ultimately test 95ish-----but if 77.40 is first breached on the downside, the EW trend will have instead turned down.