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To: John Madarasz who wrote (66934)	2/20/2003 2:02:51 PM
From: NOW	Read Replies (1) \| Respond to of 209892

John: does the 3/20-21 date appraoch have you concerned that it might be a low?

To: John Madarasz who wrote (66934)	2/20/2003 4:17:29 PM
From: mishedlo	Respond to of 209892

From Brian to ReadyTeddy in response to what is in italics We got a five up on the hourly chart of the DJIA coming off last week's low (hard to see the fifth wave but it's there if you look) That would suggest that the market may reverse today's action and retrace a third wave of a zig-zag before heading down because that five up would have to be an "A wave", not a "C wave". readyteddy - The reason I don't think we got a 5 up from last week's lows is the the supposed wave 1 does not count as a 5 - it counts as a 3 (I'm looking at the S&P). Look at the Green "A" on Feb 14 here: tinyurl.com The grey a-b-c is all I could count (even when looked at more close up). That suggests that the move was a zigzag or a flat, both of would have completed on Tuesday at the 78.6% retracement of 92. We could get a double 3, but I don't think there is a wave 5 coming. If this slide over the last 2 days is an X of a double 3, I think we'll probably head much higher - perhaps to 890 or so. I'm not counting on that playing out though. If this market could manage another 5% move without it being expiration week, that would be something to take note of. The volume on this ride up has been clear: tinyurl.com IMHO I think this is about done. Even though today has been messy which falls on the side of an X wave, it seems expiration days are like that anyway. But this market has a way of correcting every way except the way I think it will, so... All the Best, Brian