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Strategies & Market Trends : John Pitera's Market Laboratory

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To: JDinBaltimore who wrote (396)3/10/2000 6:20:00 PM
From: Jorj X Mckie  Read Replies (2) of 33421
 
John,
This is the 10pt P&F SPX chart. I think that 1350 is
possible if we pull back, but I think that 1360 is probably
a better low target. The SPX has broken through the
bearish resistance line, which is bullish and I would expect
the higher lows to continue.

Not sure if OJ would agree with me or not. But I think that
options expiration will mitigate the downside potential, at
least for next week.

1490 | 1490
1480 | * 1480
1470 X X * 1470
1460 X O X X O * 1460
1450---------------------------------X O X O X O --* --------------------------1450-
1440 X X 1 X O X O X * 1440
1430 * X O X O X O O X O * Med1430
1420 X * X C O X O X O X O * 1420
1410 X O * X O X O X O X O X O * X X 1410
1400-----X O --* ------------X O X O | O X ----O 2 O --------X O X ------------1400-
1390 X O * X O | O X O X O X O X 1390
1380 7 O X * B | O O X O X O X 1380
1370 X O X O * X | O X O X 3 O X 1370
1360 X O X O X * X | O O X O X X O X 1360
1350-X --X O X O X O ----* --X -- | -- ----O X O X O X O * ------------1350-
1340 X O X O X O 9 O * X | * O O X O X * 1340
1330 X O X O X O X O X X X | * O O * 1330
1320 X O X 8 X O X O X O X O X | * * 1320
1310 X O O X O O X O X O X | * 1310
1300-X ----O X ----O --O A O X ------| --* ------------------------------------1300-
1290 O X O X O X | * 1290
1280 O X O X O X * 1280
1270 O O X O X * | Bot1270
1260 O * O X * | 1260
1250-----------------* * --O X * ----| ----------------------------------------1250-
1240 * O * | 1240
1230 * * | 1230
1220 * | 1220
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