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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: IndexTrader who wrote (4633)	9/20/2001 3:33:46 PM
From: John Pitera	Respond to of 33421

Hi Susan, you're making sense to me on both points. We're starting to get into the neighborhood of a capitulatory type environment, and The Oct 1998 lows mark an area for a very probably rally. But all things take the proper time to unfold. I have mentioned several times over the past 2 years that I though the entire move in the SPX since Oct 8th of 1998 was a "B" wave. It had the erratic wave patterns of a B wave, as well as the speculative nature of B waves, etc. Hence our wave C decline will go down towards that Oct 1998 level and ideally take it out to the downside, as an Irregular B has a C wave which is 1.618 or 1.382 of the A wave advance from Oct 1998 to the March 2000 high. John