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To: Roebear who wrote (66685)	5/19/2000 10:27:00 PM
From: BigBull	Respond to of 95453

Roebear, that chart is not quite decisive yet. Close though. What is most interesting to me is that the whole formation looks to be a massive H&S top with the right shoulder being decidedly weak. The downside implications for the NAZ are even bleaker than my most bearish predictions for the NAZ. I had thought a bottom might be forming in the NAZ, but given the Bond chart I posted earlier, I must say that we stand at a major turning point. Too many people are going bullish here on the over all market vis a vis sentiment indicators. The key levels to watch are the 30 year treasury bond market and the NAZ. If one breaks up and the other breaks down, imo it will be clear what the very short and intermediate expectations of the market are. The OSX leaders are very extended here, and insider selling is starting to manifest itself. My mantra is OSX laggards, gold, and cash. Until the market breaks one way or the other in the NEXT WEEK, that is my position. As evidence mounts (and it should not take long now) firmer convictions will be expressed, by yours truly. Until then, I will bob and weave, waiting for the cut to appear above my opponents eye.