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Non-Tech : Raptor's Den -- Ignore unavailable to you. Want to Upgrade?

To: The Freep who wrote (2180)	7/29/2002 1:08:39 PM
From: velociraptor_	Read Replies (2) \| Respond to of 10157

The move down off the highs in January (or March depending on what index you're looking at) was shapr, but everything unfolded in 3 wave patterns. If the downside was complete, then we should see clean 5 wave impulses off the low as the next bullish series would be a 5 wave impulse. Plain and simple, we don't have it. We're still in the main trend. Last year volume fell on the first pause as well, but then it began to increase again o the next push up as buyers took control. Now however, volume is still falling. Last year the push up was about 700 points in 4 days. This year it 1000 points in 4 days and a greater percentage. We should be seeing a lot more money at work if this were bullish and volume doesn't show it like it did last time. the VIX last year was a sharp spike from bottom to top. This year it is more constructive and we're simply pulling back to the last base.