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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Dave Pestle who wrote (15260)	5/1/2001 6:49:14 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

To totally change the scenario (and "declare" March 22nd as the bottom), we will need the dow to close above 11050 and the naz above 2388. Right now we just have an extension of the April 18th high (note on the Naz we still have to go above 2202 to get above April 18th' high). So right now, I still think that we are going to satll around the original 2250, but the first leg down of the inverted W may take until after the Fed's next FOMC (May 15th) and I would put it around the 23rd. We probably are going to get a mini bounce into the 15th, but i doubt that there is anything the Feds would do on the 15th which is not already in the market. Zeev