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To: Backfill who wrote (50529)	8/23/1998 9:07:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

Backfill, >>>>>> I have data that indicates on 8/14 we had a low of the day just under 520. A quintuple bottom!? Has the support been weekened by the constant bombardment? <<<<<<<< I guess one way to look at it is that the 520 area on the OEX held 5 times may be interpreted as strength, however I prefer to think of it as you say it, the constant bombardment will eventually weaken it. Frankly, Fridays huge intraday downswing crossed so many support lines like a knife thru butter, but by the time it got to 8300 it had the downsurge was already down 275 and actually losing strength since it moved so much. I guess what I am saying is that if Fridays downswing started at a lower level, say 8500 - the 8300 support line may not have held. Right now the futures are down 4, and the YEN is up, showing a bit of strength. Its early and anything can happen, but it sure aint showing alot of strength at this time. Seeya