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To: ViperChick Secret Agent 006.9 who wrote (33924)	1/23/1998 11:50:00 AM
From: Esteban	Read Replies (1) \| Respond to of 58727

Lisa, Firstly, regarding yesterday's midday action, this quote I found may explain it well. Early afternoon activity may not be reflected by counter trend movement at all. If a strong trend is in place, a new primary impulse for this trend can begin at this hour. However, if direction for the day is not clear, counter trend movement becomes much more likely here. I think the new primary impulse in the direction of the first impulse began yesterday around 14:00. You said: eyeballing the chart it looked like the reaction was early...but the force didnt happen to closer to the 10:30 range.. I think this was all the first impulse trying to asert itself. Read the discussion about the first hour at the web site. Note the critical test of the open direction, especially in the last 15 minutes of the period. I think we are getting the test reaction now, phase 1a before lunch impulse kicks in, and so far it looks pretty pathetic as a serious test of the trend. Esteban