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To: Bull RidaH who wrote (24360)	5/27/1999 12:51:00 PM
From: Jimsy	Read Replies (1) \| Respond to of 44573

Chip - CNBC saying rumour circulating Fed may hike rates sooner than later, so probably why we aren't going back up for a bit. THey might sell this off a bit more before coming back in later.

To: Bull RidaH who wrote (24360)	5/27/1999 12:56:00 PM
From: Chip McVickar	Respond to of 44573

Thanks David, There is a 1:30 - 7day Time projection at 1:30 This window might be a good opportunity for further break down today. Although there is a 3:30 - 8day A position trade off 10900 is looking very powerful...I hope your short? My Best Chip

To: Bull RidaH who wrote (24360)	5/31/1999 2:17:00 PM
From: Bull RidaH	Read Replies (1) \| Respond to of 44573

Chip, RE: That Hitt ewave formation: astroecon.com His count still has the flaw in it of calling the 7/20 peak the end of wave 3... However, he still may be on to something. If you go back to where EW guidelines say a very large scale wave 3 had to end, which could be either the 8/8/97 peak or the 10/8/97 peak (makes no difference which one), and expanding triangle count from there for wave 4 WOULD INDEED make sense, and would follow all EW guidelines. Expanding triangles are 5 wave moves labeled ABCDE, and with this count, Wave A begins from 8/8/97 or 10/8/97 and ends on 1/12/97, then Wave B rallied into 7/20/98 in the required zig-zag (3 wave) formation, then Wave C sold off into 10/8/98 in the required zig-zag formation, then Wave D rallied into May 13th,99 in zig-zag formation, and now we're in a Wave E sell-off. Wave rules state wave E must drop below the beginning of D, so Oct. 98's lows would be taken out. Rules also state Wave E should terminate in Wave A's territory, so Oct.97's lows WILL hold. The bottom come come in somewhere between 850 and 921 SPX if this count proves to be the one the market is indeed following. I will make this my primary count with full confidence if 1185 SPX is broken by even one intraday tick. Thus, if 1185 gives way, this count requires a move below Oct.98's lows in the SPX, NYSE, and Dow. Thank you so much for running Hitt's material by me. Regards, David