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To: dennis michael patterson who wrote (50291)	8/20/1998 9:17:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

Dennis, >>>>>>>>>>> Favors says tonight that even if it declines tommorrow, he thinks the rally is not over. He also thinks there is little left to it. <<<<<<<<<<<<<<<<<<<<< If I recall 8663 was the intraday support for Jerry, and if it did not hold it would go lower for the day. I presume that 8663 support is the same for today. He also indicated that a break below 8260 would end this rally, which is kind of obvious since it would significantly break the support at 8317 which was the recent lows. If we do close down today, I also believe that there is very little strength left in this specific rally, which I suspect will take a UP/DOWN/UP/DOWN pattern (forming another STAIR-STEP) into next week. If we do close negative today significantly (75-100+ points), then I would feel that yesterdays highs at 8750 was the top. If we only close down slightly, say less than 50 points there may be enough strength in this rally to bring the DOW up to the 8850 range, but that would probably be all it can do. Seeya