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To: Tom Byron who wrote (2257)11/22/1998 5:56:00 PM
From: Tom Byron  Respond to of 81019
 
the following s&p 500 chart from digisys shows that this coming week will make 19 weeks from the top of July 20th. notice also that from the low of late 1997 to the July 20th 1998 top we had 38 weeks on the weeklies.

digisys.net

my reading of the tea leaves:

we are about due for a turn in the s&p 500 weekly. the question is: will this coming week put in a "new" high for the s&p 500 and thus end the speculation of the "death of the bull" and thereby show that the move from July 20 down and now up was a corrective wave only.

or will we end with a double top with the s&p just falling short of a new high and thus have a continuing of the ambivalence of what the financial are up too.

i lean towards the reading that july 20, 1998 was the top and end of the bull move which began in 1982.

feel that this is an important week for clarifying the count. any turn would not necessarily have to happen on a Friday...but this Friday in the states is one of the lowest volumn trading days of the years...good day for moving the markets around while everyone is stuffed with turkey and loaded down with distributed stocks from "da boyz"..

From Tom The Turkey...(6.*)

@ watching out for his neck.