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To: Robert Graham who wrote (9009)	5/28/1998 6:08:00 PM
From: Chris	Read Replies (2) \| Respond to of 42787

home depot looked pretty good today. i think we are in basing mode for the mkt now.. we had our little "drop".. all i care/watching right now is the spx/djia to remain abv their 50 day ema (which they did today) naz is really weak.

To: Robert Graham who wrote (9009)	5/28/1998 6:21:00 PM
From: Chris	Respond to of 42787

observations on the mkt: 1) i reiterate that naz and djia/spx move together. recently (prior to correction), naz was falling below 50 day ema first.. then the djia/spx followed. once again, the indices move together. 2) i was looking at last year's data from august to jan 1998. from my viewpoint, i say that our recent "drop" might be WARNING shot of things to come. look at 8/15/97.. there was a similiar warning shot when the dow went down 250 points. what happened after that warning shot? well, the mkt climbed up again, did a double top and then boom, oct 27 came. what am i trying to say? dont be complacent and think this weakeness is over. as i said 4 weeks ago, we are in Correction warning. we will continue to be as the market indices are below 21 day ema. currently, all 3 are below them. just my thoughts.