John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: GROUND ZERO™ who wrote (1930)	6/1/2000 1:28:00 PM
From: John Pitera	Read Replies (2) of 33421

GZ a number of leadership stocks have broken above their 21 dma and their 50 DMA for the first time since April, only yesterday and today, this indicates a potential return to leadership of the quality growth stocks. INKT, VRSN, RFMD are a few examples... i'm not debating the valuations at the moment just talking about technical action. PMCS is right at it's 50 DMA and it's major down trend line. obviously stocks like SDLI are well past this stage as it's approaching a new high. the NASD should be repelled by it's 200 DMA at 3650 or so, and I highlighted a resistance at 3600 as well. Let's see how heavy handed these resistance levels are, in terms of pushing down prices and if they in fact will not provide that much resistance. John

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