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Lightened up considerable on small cap funds ... the Ru2000 has been
under performing the SP500 during this decline and during today's rally.
I suspect that the small caps may have had their moment of glory and
that the big caps will lead the next rally.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, January 30, 2000 5:12 PM
Subject: [RT] Re: deja vu all over again?
> We dropped to the 1368 area a bit too fast for my liking and while we
> may get a quick rally here, I think that the end of this decline is
not
> yet in sight. and there is some evidence that this decline may be part
> of a decline of a larger degree. Next target for the S&P is the 1325
> area. Another item worth noting is the weekly outside reversals on
both
> the ND100 and the RL(Ru2000). The Ru2000 has been outperforming the
> other averages for some weeks now so I view this as rather important.
> The SP had a monthly outside reversal! Friday's huge drop in both the
> NASDAQ and NYSE breadth models has moved both deep enough into
negative
> territory that they are not likely to recover quickly. Given the
> interest rate climate (I'm withholding judgement on the rally unique
to
> the 30 year for the moment) and extreme valuations, this has the
> potential to invalidate a number of bullish EW counts and get very
> dangerous.
>
> Earl
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, January 27, 2000 7:58 PM
> Subject: [RT] Re: deja vu all over again?
>
>
> > Today was an amazing day when viewed relative to the previous inside
> day
> > and the day prior to the inside day - both buy and sell signals were
> > given by the daily pattern. The spring reversal across the pivot low
> of
> > the 25th on the 30 minute chart was very strong. I have a 5 wave
> decline
> > off the 03Jan high followed by an ABC into the PH on the 14th
followed
> > by a 5 wave decline into today's pivot low - exactly what I would
> expect
> > to see in an ABC correction of a larger degree. The only problem
with
> > calling the decline complete is that the 5th wave has not subdivided
> as
> > should be expected nor has the minimum .62 3:5 wave expansion
> objective
> > at 1378 been met. Thus I view the question of completion as
> unresolved.
> > Either today's decline will prove to be w.1 of w.5 and the decline
> will
> > continue, or the structure will be imperfect and the market will now
> > move to new highs - a close above today's high would resolve the
issue
> > in favor of the bullish case and would probably give my breadth
models
> a
> > nudge into buy territory. A close below today's low will signal that
> the
> > correction should continue - perhaps to 1368.
> >
> > That's the thing about EW, it is quite useful but imperfect so one
> must
> > always go with the flow.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: <Jpilleafe@xxxxxxx>
> > To: <boggio@xxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>;
> > <eadamy@xxxxxxxxxx>
> > Sent: Thursday, January 27, 2000 4:35 PM
> > Subject: Re: [RT] Re: deja vu all over again?
> >
> >
> > > 4. I am viewing the decline as having comprising 5 waves down
with
> > > today's selloff completing the 5th wave down.
> >
> >
>
>
>
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