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To: AllansAlias who wrote (63024)	1/8/2003 8:51:12 AM
From: ajtj99	Read Replies (1) \| Respond to of 209892

I looked at your indicator (RSI) (heresy!) on that XMI chart and noticed it bounced off the rising support at the Dec. lows. Ominous.

To: AllansAlias who wrote (63024)	1/8/2003 8:58:15 AM
From: UnBelievable	Respond to of 209892

Most of The Indices Are Between Their 50 Day SMA and Their 200 Day SMA with this two SMA's converging. It would seem that a break above the 200 SMA establishes them both as support while a break below the 50 SMA, resistance. Since we are overbought on a daily basis it would seem that a pullback to the 50 SMA (today at SPX 903.95) followed by an assault on the 200 SMA (today at SPX 963.65) would make a lot of sense. Of course this is both simple and makes sense which seems to be the strongest argument against it.

To: AllansAlias who wrote (63024)	1/8/2003 9:53:42 AM
From: The Freep	Read Replies (1) \| Respond to of 209892

Thanks for that XMI chart, Allan. You note that in the wider time frames, bulls would say it's a bullish set up. I must admit, when I look at that chart, my amateur e-wave eyes do think that the down is corrective due to all that overlap. Is there a wave count you've got that says otherwise? (Mind you, I'm not fully sure what the count was leading into that top, so I'm not saying we can't sink a bunch more). Two other random observations: there really have been four great short ops since the top (and a couple other okay ones) for really fast, hard down. Otherwise...not so great. Also, RSI is following that rising trendline that AJ noted...but is also not yet at a level that's led to any of the prior turns down. And if you make a channel on the RSI based on your bottom orange line...that, too, implies we've got some more up/chop heading our way. All food for thought for moi, at least the freep