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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (17574)	4/29/1998 10:45:00 AM
From: Oeconomicus	Read Replies (1) \| Respond to of 94695

Extreme fear and bearishness? Blowout bottom? Are you talking about the US market or some Asian country? Bob

To: bobby beara who wrote (17574)	4/29/1998 5:49:00 PM
From: Death Sphincter	Read Replies (2) \| Respond to of 94695

bobby...your absolutely right about the fund money coming in ....i believe the key to whther or not they pull the trigger and start a mini buying spree will be the economic releases tomorrow highlighted by the ECI at 10 am. bearish data releases will fuel the current downdraft and the funds will hang on to the $$$ to buy the dip.....bullish data will turn on the faucet......neutral???a favorable response but not immediately gung-ho?.....as far as waves go: at this time i can see only 2 reads. 1. we are still in wave 4 as RWS sees it...bearish view of data tomorrow and Dow breaks below 8928 would most likely confirm that 3 of C is underway and the correction would continue. 2. wave 4 ended at the end of March, wave 5 ended on April 22nd (you and I threw that idea around a while back). That would put us in the big ABC correction following the end of the primary wave that began last fall. The A of this big corrective would have ended yesterday afternoon, putting us in the B wave today. I can see a of B ending around 12 noon, with a quick b of B down. c (up) of B running to the high of the day around 3:30. Tomorrow I expect the market to wait and see what the ECI tells them and it should not go below 8928in the morning(unless the data released before the opening is very bearish). IF IF the data is bullish then the market should turn up. this would tell me that the high at 3:30 was just the end of 1 of c of B and the downdraft since has been 2 of c of B.....3 up would begin and the c of B wave would be extended with some fuel being thrown on the fire with fund money inflows. once 3,4 and 5 of c play out then the big B will be done and we will go into Big C of this corrective wave. How high will it go before running out of steam and Big C finishes this thing off???? do you see another alternative? Carl