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To: AllansAlias who wrote (92504)	4/10/2001 10:37:47 PM
From: Perspective	Read Replies (2) \| Respond to of 436258

We've completed 13 trading days of up now on the Old Eco trash, and it's looking like a fairly complete corrective structure. I would expect a wave 5 in the C wave we're in, but it sounds like you're seeing something more sinister. I know you mentioned the possibility that the 3 of the C was subdividing - you see something that has you favoring that scenario? I don't put too much emphasis on the Ameritrader data; they simply do the exact opposite of whatever the market does. Every day. 100%. I haven't seen that rule fail for them yet, which basically just says that they fight the trend, no matter which way it goes. I don't have a good read on the Naz trash right now, so since they seem to be fairly in synch, I've been using my read on the Old Eco to help guide my Naz trades. I was thinking that we were pretty much wrapping this move up in the Dow, so I was getting ready to play whack-a-mole. I just don't think Dow 10300 should be breached successfully again. If this is a wave 4, it shouldn't cross over the wave 2, right? I think S&P could go up to that 1210 level, but nothing says it must to wrap up the corrective up. The Naz, on the other hand, could go longer, but I think SOX holds the key there. We sit right at the key support/resistance level right now, and it's too early to pass judgement as to whether or not the test is going to succeed. I know where the funnymentals are, so my bias is for failure to retake the levels. [EDIT: lots of overhead resistance in place in NDX 1600-1700, contrary to the butter we've been slicing through the past few days of up.] I would be in there fading this tomorrow, but I really, really hate fading your moves... BC