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To: bcrafty who wrote (43198)	6/26/2002 1:02:31 AM
From: Shack	Read Replies (1) \| Respond to of 209892

Not to answer for Allan but a 'b' down in a flat quite often gives us a marginal new low before the 'c' up. Sometimes it gives us a deep low like the SOX pattern from June 7-18 which is known as an expanded flat. That being said a 50 point gap down here and I would not be thinking flat, expanded or otherwise. I took a look at a few other indices and the launch off yesterday's lows has 3 waves in the SOX, SPX, and DOW which qualifies it as a completed upwards correction and we are likely pointing down again. Unfortunately I focused on the NDX and was looking for a wiggle 'c' up which cost me a nice short entry, it was there this morning, but it was truncated.. In the big picture, this move off the June 18 highs would be the last wave in what I have been tracking as a large triple '3' off the December highs, it could be capitulatory, or it may turn into a large wedge which goes on for a few more weeks. I am leaning towards the latter since many are looking for the former.