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<DIV><FONT size=2>Ton,</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>When the 14-day RSI falls below 30, conditions will be better
for a rally of some sort, but I agree that the direction is down for the time
being. And Elliott Wave Theory as I practice it is suggesting the next
correction target is the 3,300 zone, the January and February 1999 lows. And as
strange as it might sound, the entire rally from 2,400 in October to nearly
4,000 in July can be counted as an irregular flat (a corrective counterrally of
awesome aspects considering the percentage move), which if true would suggest a
higher degree correction target of 2,400. Attribute it all to the extraordinary
strength of this secular bull market.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>Joe</FONT></DIV>
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<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>A.J. Maas <<A
href="mailto:anthmaas@xxxxxxxxx";>anthmaas@xxxxxxxxx</A>><BR><B>To:
</B>Metastock-List <<A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx</A>><BR><B>Date:
</B>Saturday, October 02, 1999 05:26 PM<BR><B>Subject: </B>Re: Diamonds +
Fractal Retracements(SP500-0827.gif)<BR><BR></DIV></FONT>Previous
mail:<BR>Diamond for the SP500 (SP500-0827.gif)<BR><BR>Now an Update on the
above<BR>(SP500-1002.gif)<BR>Too late realised to put the Shorter Term Fractal
Retracements<BR>on the Chart, for as the SP500 also nearly reached(!) its 100%
retracement<BR>level (1215) (measured from the Low since early this year, eg
that was also<BR>the Low of 1/2 way the uptrend since last Oct98, eg and prior
to breaking<BR>out of its ST-continuation stop).<BR><BR>See also the
Estx50-gif and the Dow-gif this week-end<BR>(all 3 have the same Subject
:).<BR><BR>Consensus is that Greenspan(FED, +0.25) and Duisenberg(ECB,
+0.5)<BR>will raise the intrest-rates, enough to fuel-tricker the 'technicals'
this month.<BR><BR>RSI readings are not signaling an 'oversold'-market (for
the Dow there<BR>is some possitive divergence) but a plain weak ST
bearish-markets for the<BR>stocks&bonds worlwide, of which the first will
get the largest share to<BR>digest as yet, and with the latter stumbling on
some "very thin strong" support. <BR><BR>Regards,<BR>Ton Maas<BR><A
href="mailto:ms-irb@xxxxxxxxxxxxxxxx";>ms-irb@xxxxxxxxxxxxxxxx</A><BR>Dismiss
the ".nospam" bit (including the dot) when replying and<BR>note the new
address change. Also for my Homepage<BR><A
href="http://home.planet.nl/~anthmaas";>http://home.planet.nl/~anthmaas</A><BR></BLOCKQUOTE></BODY></HTML>
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