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To: Dnorman who wrote (53209)	9/18/1998 12:12:00 PM
From: donald sew	Respond to of 58727

Dennis, >>>>>>>>>> Can you tell anything by the early lack of movement today whether we should have a lower or higher close today? I notice it went below 7850 earlier did the way it did it mean anything? <<<<<<< thanks for reminding me. Lisa got me so confused, I forgot about it. Only kidding Lisa. We broke the 7850 support line by about 15 points. I normally prefer to use a 50 point break of a support or resistance line to say convincingly that it really means something. 15 points is a little on the light side to be a concrete break of a support line - it could have just been an overshoot. Regardless, a break of the 7850 support implies that we could be heading to the next support soon, which I have around 7700. I still cannot get an exact figure on that support, so lets just say 7700 for now. Since we are in a short-term downtrend, we could revisit the lows of today again, before the close and the probability is that we should close closer to the lows than the highs. I noticed one thing today and that there was a downswing of 1300 TICKS around 10:00. Someone was selling to have such a big swing in the TICK. In light of that I feel that we could get a negative 800-1000 TICK sometime today which could produce lower intraday lows. This is triple witch, so, as I said before it may skew things.