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To: Shack who wrote (60864)	12/4/2002 8:44:21 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

I know there are lots of trendline breaks and ugly charts (and yet most of us are expecting another run up), but here's an ugly chart that could get uglier: LEH (http://stockcharts.com/def/servlet/SC.web?c=LEH,uu[h,a]daclyyay[pb50!d20,2!f][vc60][iLah12,26,9]&pref=G) To me, it argues for some more down before a bounce/new leg up. 54.5/55 should hold this time (if it gets that low, I suppose), and keep it from a gap fill. Or, I suppose, it's finished that flat you see everywhere,and it's about to leg up. But is there anything else in that chart that looks good to you? the freep

To: Shack who wrote (60864)	12/4/2002 8:53:51 PM
From: Jeffrey S. Lillie	Respond to of 209892

You are absolutely right about the jan march period of 2002 and for most of the peaks in the year prior to that as well. Beyond the march peak in 2002 that hasn't been the case. The indexes have been led up and down by NDX and when the NDX peaks and turns down it takes everything with it. There was only one major peak and that was late august. There were several minor peaks ( mid may, early sep, early nov, and now in early dec) that this was true. So, i see that NDX leads this party and thats why. Also, i watch the dow,spx and NDX on real time updating charts thru the trading day and if ndx is moving up it carries the others. if it is cranky and having a bad day, it usually takes them with it. I have to admit, that it was less effective than it has been today. thats my story anyway, jeff ps great thread, im still learning Ewave, but read Oshinka's morning summary religeously. the cool thing is after 6 months of doing so i am starting to think like him.