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Strategies & Market Trends : John Pitera's Market Laboratory

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To: GROUND ZERO™ who wrote (1985)	6/4/2000 9:58:00 PM
From: Chip McVickar	Read Replies (1) of 33421

GZ, >>I get this gnawing feeling << Are you sure it isn't that dog of yours gnawing on a bone...? <smile> The markets had been oversold and waiting for "News." They sure got it...! I agree, I doubt the markets will be taking off like they did in February, but rather they will trade in a sideways channel defined pretty much by what we've seen. They are now seeking the next "News".....! But I still like the Upside this week on a small pull back and the market closed above the 5/10 median line...All signals are still higher on the daily charts, but weakening progressively on the 30 min charts on down...! And the "15 day facelift" is in place and working until the Thursday/Friday on the DJIA and the SPX. However...., Monday has a daily DJIA TP off 4/4/00 Tuesday DJIA has a TP off 10/18/1999 BTW....Grains and beans maybe moving on the long range weather forecasts that are expecting a drought this summer. Last week the jet stream moved north along the Canadian boarder, which is the perfect statistical set-up. Chip

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