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

To: Zeev Hed who wrote (15535)	5/7/2001 5:06:25 PM
From: TREND1	Read Replies (1) \| Respond to of 30051

COO has a beta of 0.4 WOW ! Larry Dudash

To: Zeev Hed who wrote (15535)	5/7/2001 9:30:03 PM
From: ajtj99	Respond to of 30051

Zeev, doesn't the fact that we've got a huge gap between 1923 and 2005 on April 18 to fill almost guarantee we're going down, in your opinion? That plus the weak resistance at 1923-1941 almost guarantees 1869 will be re-visited in the not-so-distant future (which translates to 1850 +/- 20). Les has posted an e-wave on the MDD Help page that shows 1184 on the SPX on May 8, which seems almost impossible. However, I think we'll get there possibly in a week two. The question is, does it bounce? His e-wave chart shows a June low on the SPX. The SPX is moderately tracking the COMP recently, so that kind of conflicts with your slow build from a low on May 23 to a high in early July. E-waves are not infallible, but it is a nice way to round out a technical analysis, IMO. E-Waves should probably count no more than 15% of an opinion.