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To: edward miller who wrote (49430)	8/6/1998 12:52:00 PM
From: donald sew	Read Replies (2) \| Respond to of 58727

INDEX UPDATE ------------------------- Dont get me wrong, but I still have a bearish bias. Having said that to make it clear to the bears that I have not turn bullish, I have noticed slight improvement in the the market internals - not alot of improvement, but possibly enough to have the bounce which started yesterday to continue up more in the short-term(by next week). Here are some of the slight positive changes: 1) NYSE ADVANCE/DELINE almost even 2) NAZ ADVANCE'S greater than the DELINES 3) NYSE NEW LOWS has bee cut in half so far. The last 2 days the NEW LOWS were over 500, and now around 250. The NEW HIGHS, obviously will stay low for awhile in light of the market being so far from the highs, so the NEW LOWS will improve first. 4) It appears that some of the money is starting to spread out into other sectors besides the NIFTY-FIFTY. The RUT is up slightly. 5) UP VOLUME is greater than DOWN VOLUME in both the NYSE and NAZ Again, I am not turning bullish, but noticing slight technical improvements in the overall market which should be enough to support a continuation of this bounce. The market would require dramatically much more improvements to return to a strong longer-term uptrend. Seeya