John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Chip McVickar who wrote (1103)	4/17/2000 10:41:00 AM
From: John Pitera	Read Replies (2) of 33421

I was thinking it could have been bloodier during the first hour, but I would have wanted to see 2900-3000 if we slipped much below 3240-50. I have such important Fib supports and a major trendline that, I'm OK with it holding above 3200. It still leaves the door open for this to be a correction in the SPX and the DJIA, and by the way the DJUA is looking a bit better as well. If the DJUA can hold here on it's recent run back down to the 200 dma, then it really will greatly strengthen your thesis that we have more upside in the Utils. Bear mkts like 1973-74 don't usually occur with the Utils having as much relative strength. John

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