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To: AllansAlias who wrote (24341)	10/4/2000 12:12:50 AM
From: Perspective	Read Replies (2) \| Respond to of 436258

Allan, Dismal thought I just had comparing the various indicies. Hope I'm wrong 'cuz I'd really like a bounce to reload - but: On the truly broader indicies like SPX, the last couple weeks' worth of congestion actually look like a weak corrective up wave - the wave two of three. Weak ones, granted, but there is the possibility here from an Elliot perspective that the past couple weeks' worth of congestion - starting with the INTC preannouncement open - might have been the wave two corrective phase. Like I say, I hope and think I'm wrong. Gut says there might be a sudden vigorous rally of about 250 Naz points here. But I thought it started this AM, and look where that got me. I know that wave three is extremely potent, and countertrend rallies inside it may appear simply as moments of pause in the flow. Maybe more serious e-wave devotees can comment. BC [EDIT: further evidence comes from examining the time base. Note that the wave 3 of 1 lasted barely two weeks. So one would naturally expect wave 3 of 3 to unfold on comparable scale. My rational side says that the mutual fund outflows are turning on bigtime, and that's all that's really required to launch wave 3 of 3 - what else will stop it? Nobody is short these days, right? And all the BTD guys are out of money.]