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To: AllansAlias who wrote (18593)	10/31/2001 9:47:49 AM
From: Perspective	Respond to of 209892

I would be on the lookout for that one. I've felt all along that the Oct 26th high had all the look and feel of a flat "b" high. It was too high in SOX and NDX to be a proper flat, but SPX tells a totally different tale. The counts naturally don't have to line up, but they usually are related in hindsight. If this is the case, we've entered wave "C", the "echo" of the first short-covering leg. I'd expect it to burn about ten days, and run 38% or 62% of the initial leg "A". The former would have us take one last trip to the Oct. 26th high; the latter would have COMPX/NDX terminating around the 1915/1600 level. It seems like quite a stretch, but I'd certainly label it the most bullish alternate. This is certainly invalidated if we can't crack through this level here, but the targets probably won't move around too much even if the "C" runs a little lower. Basically, the next leg up should be a weak impulse, making a marginal new high for the short-covering rally, unless the upward correction off Sept. 19th is already completely done, which is less likely. BC