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

To: Daniel Ray who wrote (23054)	8/2/1998 4:57:00 PM
From: Temple Williams	Read Replies (1) \| Respond to of 94695

After the close on Thursday, my Alternate Count suggested that the correction was over. I posted something to that effect here yesterday. Friday's powerful slide south killed that count. Right now, I can't find a single legitimate wave series that suggests the slide is over. My "new" alternate -- the "next most likely" roadmap to occur -- is a compelling one. It shows us in the final stages of a complex wave combination that will take the market higher on Monday morning (to just over 1140 Cash SPX (1144.00-48.00 the Spoos depending on premium burn). Then the index drops it into the close, and it makes another attempt at recovery on Tuesday. The index may reach for the Monday high around noon on Tuesday ... before rolling over and heading for the basement, which I think will be around 1160.00-65.00 Cash (worst case scenario) in the middle of next week. The point is ... the correction is not over. But it will be, sooner (with my Preferred Count) or later (with the Alternate Count).