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To: marc chatman who wrote (43723)	5/21/1998 9:08:00 AM
From: donald sew	Respond to of 58727

MARC, My belief is that TRIANGLES are formed as a process of awaiting news. The main news came out with the GREENSPAN announcement and it surged to the upside yesterday; therefore I believe the main triangle is over. You made a good observation with the NAZ, which surged to the downside. Neither surge was huge, so for the time being I am interpreting that the overall market is still in range trading mode. I believe a few indexes have already set new highs within the last 2 days (think it was the IIX and RLX), but other indexes have set lower lows. I believe the real key is whether the SPX can set new highs above 1132. Even if the DOW and OEX set new highs slightly it would not be as convincing as the SPX setting new highs as a sign that we are going higher. Seeya