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To: Esteban who wrote (33911)	1/23/1998 10:36:00 AM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

E wimpy close- here is another way to think of it... remember the downward pressure we had in the 2:45-3:15 area... (caveat..my times are always ballparks..just remember that and I am talking SPX unless I say different..) looking at the 5 minute chart...we recovered most of that drop so it could be said that there was some strength.... today we are near the low of the day yesterday... probably by the time I post..we will be there

To: Esteban who wrote (33911)	1/23/1998 11:29:00 AM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

trader T: Each impulse is immediately followed by a testing and reaction phase in which the thrust is measured for strength and durability. Major reversals are less likely to occur during these reactions, but when they do can have tremendous force. This results from testing that dramatically fails, trapping one side of the market that had been in control during the prior phase. what is your analysis on time ...we did get a major reversal with tremendous force... eyeballing the chart it looked like the reaction was early...but the force didnt happen to closer to the 10:30 range..