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To: Shack who wrote (2651)	8/12/2002 1:06:23 AM
From: velociraptor_	Respond to of 10157

I doubt it is a 3 also, there are too many stocks and indices which have a very clear 3 wave initial thrust off the lows from july 23rd that locks everything into a corrective pattern. Volume should have taken off on the 3 up as well and it didn't which just adds confirmation that this is not a 3 at all. The only questions is when exactly does this correction end. The completion of one correction structure may only be part of a larger structure, especially when you are dealing with flats because practicall everything in the first 2/3s of the pattern is all 3 wave moves. We'll soon find out. I'll clue in one thing I took away from the Trade Expo...you can kiss the bull market gone for sure and don't count on another one starting for a while. Buy and hold investors will suffer and only the traders will make money for a number of years going forward.