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To: Mike M who wrote (19045)	11/2/2001 9:54:08 AM
From: Chip McVickar	Respond to of 209892

>>what happens if tomorrow is a down day<< Mike, My premise is that the markets have been given a lot of freebies in the last few weeks, and instuitions would like the Sept 21st to be a bottom. So economic news has been pushed aside as old news...., and the markets are looking ahead and moving up on the hopes of better times going forward. So the pressure is upward..., unless some new story breaks the heart of these bullish buyers. The impulse to resolution will be resolved Up.., off weak bar patterns. The outside key reversal bars yesterday were a perfect example, but the compx doesn't have one. Compx did have one back on 10/10 and 10/19 with the expected results. Downside risk is 50% to 62% retrace of the Ourtside Key Reversal bar on the day. This thread is for e-waves..., but this maybe of interest: compx has reached the upper tine of the forward daily fork [handle 10/17 high] and this market could easily pull back to 1715 on the day. SPX can move higher to just under 1100 with 2 days left in the bar pattern. DJIA can move higher...9425, 9500 in the next two days Failure to move forward off this key reversal bar and complete the two day pattern higher would IMO be the ending of a wave.