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To: MonsieurGonzo who wrote (52525)	9/14/1998 12:15:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ------------------- Im getting short-term SELL SIGNALs now, which should be initiated at todays highs. Here are my reasons: 1) My short-term technicals already entered the overbought region and may could either be a CLASS 1 or CLASS 2 SELL, but cant tell for sure untill all my data is updated late tonight. 2) VIX - VIX got as lows as 36.75. On SEP 2 and SEP 8 the VIX was also this low in the 35-36 range and then the reversal started. Many will say that the VIX is not a SELL SIGNAL until it is under 22. I dont have the time to explain it thoroughly, but if one was to flip the VIX daily chart upside down they will also notice the STAIRSTEP PATTERN which I noticed for the DOW and other indexes. 3) My short-technicals have similar patterns as during the STAIR-STEPS at 9000 and 8600 just before they broke the stair-step to the downside. I had 2 resistance areas. The first was at 7865-7896 which was broken easily, and the second at 7950-8030, which the 8030 line is still holding for now. I feel that the 8030 resistance has a fair chance of holding, but if not then 8095 should hold for today. Even if 8030 is broken, it does not matter as long as 8095 holds (specifically today). Seeya