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To: Ben Anderson who wrote (111580)	7/10/2001 4:41:45 PM
From: pater tenebrarum	Respond to of 436258

Ben, i'm generally using the SnP/Wilshire total market indices for my cycle counts. i'm looking for a lower high, and it seems we got one yesterday. should be one more bounce though, likely on Thursday. the expected lows are cycle lows, whether they'll be new lows for the year i can't say, but they may well be. options expiration plays a part in these deliberations. if the market continues to show weakness during expiration week, delta hedging will accelerate the downtrend. the market has entered a danger zone - a period with the potential for panic. IF no further selling pressure materializes by early next week, i'd consider the danger as having passed.