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To: Hawkmoon who wrote (56521)	7/20/2000 1:01:26 AM
From: PaulM	Read Replies (1) \| Respond to of 116822

The NYSE is, as you say, showing a pattern of higher lows with horizontal top resistance. I also think you're right that chartists would consider that very bullish. So I guess this gives us the opportunity to test that theory. (BTW I was really referring to the uncanny call on the two dates, July 1998 and April 2000, as fitting so nicely if a bear has in fact begun. My take on the current technical analysis of stocks is that there is a divergence: the NYSE looks good as you say, but NASDAQ has recently come off a parabolic rise. That's a historically rare occurrence and, in the past, has tended to mean only one thing.)