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To: JRI who wrote (6891)	1/8/2003 10:21:13 AM
From: GrillSgt	Respond to of 10157

Fwiw, Today is day 5 of my current up cycle. Naz has been up for 4 days in a row so a breather day can be expected. There is a chance though that we do come out of the hole and put in mid cycle highs either today or early tomorrow. ES 925 is the area to watch. Trading above resumes the rally for 931 then 935. Trading below 925 keeps the pressure on down to 918. A break of 918 is bearish and sets up the 912 first target. 908 is extended target on weakness. Below here and 900 is the last place to catch this thing. NQ 1076 is the spot. Trading above gives us a run at yesterday's highs at 1088. A break here and 1094 and 1101 are the targets. Don't push the envelope here. I think a low risk sell here. Trading below 1076 takes us to 1056 for the bulls last stand. A break here and the bears take control down to 1042. 1030 is the extended target. Dow 8790 is the spot. That is the lid and trading below keeps the bulls at bay. Only a break of 8660 will get the bears excited. Otherwise it becomes lackluster. I am expecting a pullback day for the naz. The es is a wild card and appears the weakest of the group. I think it follows the naz lower today. Breadth was awful yesterday on the naz advance further suggesting lower prices today. Lets see.

To: JRI who wrote (6891)	1/8/2003 11:46:13 AM
From: velociraptor_	Respond to of 10157

I'll have to look at the counts again. Yesterday it kind of looked like the 5 was being completed and posted that I wasn't sure but after looking over the charts, I went with the idea that a 5 up was still to come. Obviously this mornings action broke the channel so 5 waves should be done as originally thought. At this point, I am looking for a decent pullback for the dip and then a possible retest of the high which may come in lower or higher. We seem to be following our pattern pretty closely and yesterday, Jan 7 was a significant turn date.