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To: Crimson Ghost who wrote (42859)	4/21/1999 1:44:00 PM
From: Gary Burton	Read Replies (2) \| Respond to of 95453

George-As I see it, the major averages are close to topping out, and may have already done so. April is often a topping month-many think we started a bear mkt last Apr 21/98 when the a/d line peaked out and the junior averages like the russell started down. As such, I would be inclined to very carefull in here. I think there is much more work to the downside. As for the Russell, if it dips below 403.52 the retrace rally from last fall's lows has likely topped out. The next resistance on the upside is approx 442-446. The main reason I'm cautious on the Russell is that usually we don't simply broaden out without first changing the trend to down. So, I'm inclined to treat the russell as in the C leg of an ABC partial retracement off the fall98 low rather than a continuation into new all time highs...just my2c