John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: current trend who wrote (1784)	5/25/2000 4:51:00 PM
From: GROUND ZERO™	Read Replies (1) of 33421

Thank you for your kind comment... sure, basically, we're sitting on a two year support line... if that breaks, then all bets are off... but, I think the chart patterns of the last few days have been very positive and the last two days have given me reason to suspect a decent rally from here... today we had higher highs and higher lows in the SP's and in the NAZ... I like the chart pattern here and I'm expecting friendly numbers tomorrow morning to rally these markets... don't ignore the bond market which rallied better than a full point today and has given a break out signal in my book... a rally in the bond market should also help the stock market out of its doldrums... also, today's numbers are showing some signs that AG's rate hike policy is already taking effect... he's also looking at today's and tomorrow's numbers before deciding what to do for the next FOMC meeting... he won't be so heavy handed if he sees his policy is already having an effect... the last thing he wants to do is crash the markets... if we have a friendly number tomorrow, he may just raise 1/4 point and that's it for a while... these markets have already priced in a much bigger rate hike... the bonds are telling me that they're expecting a good number... I could go on, but these a just a few of the reasons..... GZ

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