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To: wiley murray who wrote (39107)	4/11/1998 4:37:00 PM
From: donald sew	Read Replies (3) \| Respond to of 58727

INDEX UPDATE ------------------------- Just a little technical tid-bit. I have been following the NEW HIGHS and the NEW LOWS for both the NYSE and NAZ, and trying to make some sense of it with using multiple moving averages. Spotted something unique. The average number of NEW LOWS since mid-January, when this rally started, is only 47. On 4/7 the NAZ's NEW LOWS spiked up substantially to 114, when the 10 day average was only 57. In fact it was the first time that it spiked up this high since the beginning of this rally. For all those playing PUTS - dont get excited. I compared it to previous strong selloffs in 1997 and prior to the selloffs there was a spike also, and the one that had the most similarity was the OCT selloff. There was a similar spike on OCT 17, with other similar patterns, and we all know what happened 6 trading days later. THIS IS NOT CONCLUSIVE, AND ONLY STARTED THIS TYPE OF ANALYSIS RECENTLY SO DO NOT GO NUTS GLEN - ggggggggggggggggggggg My complete technical analysis is saying that the pullback next week will not be huge as PLONK's wave analysis is stating, however my NEW HIGH/NEW LOW analysis is hinting that it is possible. Please keep in mind that I use many different technical indicators and this is only one of them, and I do not make my conclusions based on one. Seeya