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To: Step1 who wrote (6247)	7/27/2000 7:47:30 AM
From: AllansAlias	Respond to of 436258

Right Stephan, 16,000 is being watched by everybody. I am sure they will defend that with gusto, but when it goes it will be a tortured trip to the 13,000 area, finding support at the Fall/98 lows and Fall/85 consolidation. If it breaks that level, and goes to, say, the measured move off the bear flag it just broke, around the 12,500 level, that would fall somewhere close to the bottom of the current down channel if you connect the Summer/95 and Fall/98 lows. Note that this month is forming a beauty bearish engulfing. Since the 1990 top, which was itself a bearish engulfing month, every such monthly has pointed down. It does not look good. --Allan