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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (27847)	9/15/1998 6:45:00 AM
From: Arik T.G.	Respond to of 94695

Claude, Indeed we did not penetrate the upper parallel, but now the main indices retraced over 50% of the pole (the 4 days decline), which reduces the validity of the flag. The market jumped over the 13 dma, and this could mean that David's count of waves is the correct one (the last 9 trading days starting a bigger correction since the 3 of 1 is complete). I am still long term extremely bearish, but the immediate crash scenario has too many holes in it. If we drop below the lower parallel, around SPX 980-985 today, in the next few trading days, then I'll be looking for an immediate crash again. ATG