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To: AllansAlias who wrote (78602)	8/6/2003 10:37:43 PM
From: SwampDogg	Respond to of 209892

Looking at some of the charts it is striking how far off the highs some sectors are. Talk about rotation...kind of a sneaky move.

To: AllansAlias who wrote (78602)	8/7/2003 1:31:17 AM
From: The Freep	Respond to of 209892

Allan -- wouldn't one expect the indices to break the channel lines if either A) they were starting new down (duh) or B) they were in some sort of wave 4? Isn't that a hallmark of the penultimate move? Not that I think the latter's the case. I don't know what is, but I am not expecting a move to new highs here (though a backtest of the channel could get us higher than I might otherwise expect). But I am also not expecting insta-melt. In short, I remain unsure... but sure of the above question to you. <g> the freep