John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: IndexTrader who wrote (232)	2/27/2000 9:21:00 PM
From: GROUND ZERO™	Read Replies (2) of 33421

Hi Susan, As far as long term forks for the NAZ, the market has been in a runaway phase for some time now so there is no place where I can hang my hat in order to set up a fork...<g> The NAZ has been faithfully following the near term fork you referenced using the January pivots... if we looked only at that pattern, the NAZ actually looks very good... now, the only fly in that ointment are the two outside reversal days we've seen recently... so, if we begin a fork using Friday's high as the top pivot (being a bit presumptive here), then we can easily see a pull back to about 4150 or so... my guess is that if the NAZ breaks the way the DOW and SP's appear to be doing, the NAZ can move much lower than 4150..... time will tell... GZ

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