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To: donald sew who wrote (55218)	10/11/1998 4:16:00 PM
From: HairBall	Respond to of 58727

donald: Could you be using a LOG chart? Yes, that is why I put it in bold letters in my post: Dow Industrials End of Day Theoretical Semi-Log Chart...<g> I think that there is divergence between charting points, because I choose to use the above charting for market trend analysis and I suspect you are using Actual Data. Your right, I had noted much of what your analysis reveals. My cycle indicators have given a “A” buy alert at the beginning of each of the bear flags. And as your analysis reveals, each flag has briefly penetrated the previous descending downtrend line, only to eventually establish a new one, once it resolved its formation and dropped. The last bear flag did move through the new descending trend line once again but in addition it produced a “B” buy signal before the resolution of the formation and the subsequent drop. And, this latest drop has been muted with much less momentum. The Dow Industrials have diverged from the NASDQ, but is staying in-synch with the NYA and SPX. Of course the DOW Transports & RUT have continued to lead the drop. I always pay attention to my cycle indicators. Since I couple their signals with my charting analysis, I am now, for the first time since mid July, somewhat cautious as far as overall market direction. And, my "A" alert signal always requires confirmation. As I am sure you are aware, this is the first time, I have blinked during this down turn. I am not calling for an end to the downturn if the descending trend line is significantly broken. The violation would “initially” have me defer to a bear rally. For now call me “Cautious” until the Market decides which side of these two trend lines it wants to be on! As always I appreciate and respect your analysis, even during the few times, we have disagreed. Thanks for your feed back. BWDIK Regards, LG PS: If by some slim chance, my response actually gets through...I have not been able to post for well over 20 hours. SI service is the pits! Just wanted to tag this post with this information, so if anyone has posted me...I am not able to respond!