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Strategies & Market Trends : TA- Advanced GET -- Ignore unavailable to you. Want to Upgrade?

To: Temple Williams who wrote (945)	3/29/1998 8:45:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 1551

Temple-I left a message for you using your website. In essence, I suspect that the W4 ended in late Jan with a small (e) wave of a Triangle and that the W5 thrust started from that point (Jan 20-23 area as I recall from memory). I doubt that W4 ended in Oct 97, or for that matter Aug 97. As I see it, there is a material risk now that we may start down significantly from here--possibly one more little blip new high to retest 9000, maybe maybe not.-----the real risk of course is that this decline may evolve into the real thing this time and leave all the bulls in the elevator. Sure looks crowded in there. I'm standing in the foyer as the complacent types are fighting their way to get ready to jump in the elevator 'one more time for the gipper'. I now count 5 waves up completed from the 87 low as well as 5 waves up from late Jan98. So, this long Fifth Wave Extension is screaming major league caution to me. As they say, they don't ring a bell at the top. which is of course why it is a top--the elevator is stuffed with 'pigs' back from lunch who are waiting patiently for supper in the belief that every dip ends up higher. Like Pavlov's dog by this point. Would you believe that the advance/decline line is still not back to the 1986 high. Same for some other oscilators.!.