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To: donald sew who wrote (18609)	3/15/1999 8:45:00 AM
From: Arik T.G.	Read Replies (1) \| Respond to of 44573

Donald, In my previous post exchange2000.com I was referring to the H&S formation in the Russell and the inverse H&S in the NYSE and FTSE. The FTSE is failing again today to hold over 6250. If it stays under 6200 the next couple of days it will IMO confirm the failed H&S and would indicate that a BIG CORRECTION is underway there, correcting for the bull market since 1994. The EW wave pattern in the FTSE is the dreaded ENDING DIAGONAL. Lots of overlapping waves that spell trouble ahead. Here's the count for the FTSE from the October lows : Minute 1 - 10/8 to 11/24 Minute 2 - 11/24 to 12/3 Minute 3 - 12/3 to 1/8 Minute 4 - 1/8 to 2/10 Minute 5 - 2/10 to 3/12 That concludes Minor 5 of the intermediate wave that started in 1994. This count will be negated over FTSE 6520 (5 and 1 will both be bigger then the 3), which IMO is unlikely given the continuing failure to break the neckline at 6250. NYSE composite touched the neckline twice last week and reversed. The NYSE composite has the same EW pattern, except minute 2 is from 11/27 to 12/14. I would be genuinely surprised if the Russell 2000 will trade over 407 and fail to break the neckline at 391. The two scenarios from my linked post are still intact, but the bearish scenario is now getting big support. ATG