John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: robert b furman who wrote (1587)	5/15/2000 11:49:00 AM
From: John Pitera	Read Replies (2) of 33421

Hi Bob, The RUT is also above it's 200 DMA and has stayed above the major trendline illustrated on this chart geocities.com we are also above the horizontal support of the July 1999 high, and the 50% retracement of the entire Advance from Oct 8th 1998. So we have held some important levels, that will need to be broken to enhance the bear thesis. The Wilshire 5000 is also holding above it's 200 DMA and it's July 1999 high as well. geocities.com The yield curve is still inverted though, so the coast is not clear yet. The seasonality of the Presidential election year kind of argues against us ending the year down significantly from these levels. It will greatly annoy an army of traders and market watchers to have the market trade in a pretty narrow range for the next 6 months and it would make lots of money for professional option writers..... food for thought. John

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