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To: Shack who wrote (17632)	10/23/2001 10:57:39 AM
From: Paul Shread	Respond to of 209892

See this? "The NDX drew a bearish candlestick pattern called a "Bearish Engulfing" pattern last Wednesday. Wednesday's "Bearish Engulfing" pattern engulfing the last four trading days. The more days a "Bearish Engulfing" pattern engulfs, the stronger the signal. Last Wednesday pattern can also be called an "Upthrust" and is also a bearish signal. When an "Upthrust" breaks the previous high by a wide margin, than usually a re-test of the "Upthrust" is needed before the decline continues. As long as the volume is lighter on the re-test than the volume on the "Upthrust" day, than the bearish scenario will continue. Since the "Upthrust" broke the previous high by a wide margin, we are expecting a re-test. The re-test can end anywhere from a 50% retracement to as much as a 100% retracement. We are expecting around the 50% retracement level, or near 1375 level on the NDX. Today's high was 1383, however, no bearish candlestick pattern formed today. We will wait for a bearish candlestick pattern before shorting the QQQ's. Staying flat the QQQ for the moment." Message 16541378

To: Shack who wrote (17632)	10/23/2001 11:00:09 AM
From: AllansAlias	Read Replies (2) \| Respond to of 209892

Sorry to be obtuse, but don't you mean 'B' rally? Off the Dow high we would have A down, B up (now), and then C down, unless the decline off last Wed's gap and crap is a complete correction. (The notion that it was a complete correction was an alternate abc-x-abc I posted last Friday.)