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To: ViperChick Secret Agent 006.9 who wrote (50725)	8/25/1998 8:58:00 PM
From: epicure	Read Replies (1) \| Respond to of 58727

Well- We have essentially two high waves following the hammer on Friday. A series of high waves can signal a reversal. I think that will be a reversal up but I can't tell you how soon it will occur. We could have lots more of these high wave days or alternate between big bearish and bullish days within the range. The drop that stalled at the beginning of August put us in a range of approx 8300-8720 (imo). I see what might be a triple bottom in this narrow time frame. My MACD put in a sharp bottom at the beginning of August and just crossed to the upside today- now that doesn't mean it won't double back again, but I think although we may be in a range that we won't see a penetration of 8300. In fact I would be surprised if we retest it. sp500 chart is virtually identical The Russel does not look anywhere near as healthy. A series of black candles and no turn up in the MACD yet. Naz is about the same. Even with their crummy candles I still think these indices are in ranges too.