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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (1910)	10/28/1997 7:38:00 PM
From: mister topes	Respond to of 42834

Brinker identified the Monday night closing lows as the important lowpoints for the short term correction. These are Dow 7161 and S & P 877 and Nasdaq 1535. During his interview in California he predicted a bounceback rally during the week which he said would probably fail and be followed by a backing and filling and testing process which could extend up to a few weeks. He emphasized the point that the most important aspect of such a testing process would be any revisitation of the area of the Monday night lowpoints on reduced selling pressure and lower volume. He said a such a testing process could result in a buy signal for the market. This testing process he said applied to the overall market averages, not to the pricepoints of individual stocks themselves.