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To: yard_man who wrote (37862)	11/15/2000 6:35:13 PM
From: pater tenebrarum	Respond to of 436258

looks a bit like wishful thinking...but who knows, e-wave opinions are a dime a dozen. one of the gazillion different counts out there is surely right. this one suffers from a third wave that looks a bit stunted to me...imo, the entire advance from the '98 low has if anything, b-wave characteristics, what with the lack of participation for instance. the BIG wave 3 ended definitely at the time the a/d line and the VGY topped out. could the S&P rise back to the upper boundary of the rising wedge? sure it could...but is it likely? lots of important trend lines have been violated, and the bullish consensus hasn't even been dented. in fact, the lower trendline on this chart doesn't even exist. you can see when you actually draw a line using the lows that this line has been broken. likewise, the broad monetary aggregates have begun to slow down...mania can't continue unless they re-accelerate sharply. the Fed today didn't sound like it wants to comply.