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To: wave3rules who wrote (134317)	7/13/2006 12:16:23 PM
From: sitkapacific	Read Replies (1) \| Respond to of 209892

There are several indicators showing that this last several years of rally is extremely weak and the smart money index shows a steady outflow of smart money. That is more in line with a wave 2 not a wave B Hello Wave3, The decline in the Dow from 2000 seems to me best counted at a expanding wedge wave 4. It's always baffled me how Prechter thought this was anything else. With that in mind, the move up from the 2002 low is most likely a wave 5 - one that may have truncated and ended in the recent double top. How's that for bearish?! -ggg Brian

To: wave3rules who wrote (134317)	7/13/2006 12:40:32 PM
From: Henry J Costanzo	Read Replies (1) \| Respond to of 209892

FWIW, W3...... I see no basis for thinking DOW has completed a plain old TA double top....which btw would signal a major, major......uber-bearish move.....(5000, anyone ??) In the broad indexes, I am still calling this a 5 wave up ftom 2002......with the market presently in the final 5 of V up....I do not buy..as I indicated before.....your A down 2000-2002 and B up 2002-May 2006. Those would indicate a corrective pattern from 2002, and I am calling that pattern impulsive... Here's an old chart of mine....from last Feb....... which illustrates my thinking (ignore the time placement of what I have labelled "4 ??"...I'm assuming that we are still..... now .....working to complete that "4"....)