John Pitera's Market Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Chris who wrote (2581)	8/9/2000 11:44:26 AM
From: John Pitera	Read Replies (1) of 33421

glad to be able to help.--Interesting suggestion of the DJIA pattern being analogous to the DJIA pattern from 1966 to 1980. ---S&P500** SEP Short/intermediate-term trends side. Resistance 1500-1533, then 1563-1595. Support 1387. Prices are in a broad range between support and resistance. A 7 day retracement of a 2 week internal break looks like the start of an exit move and subsequent push at the secondary resistance zone. Would need a close below 1443.10 to take the edge off the retracement. We have previously discussed (prior to, but most recently, early Jun) the similarity of DJIA pattern development since Apr99 with that of a complex high level DJIA pattern of 1966-1980. We mention the comparison again since DJIA action is coming up out of the terminal coil in the pattern. If current behavior continues to track the historic example, that index should be on the verge of a 1500 point run. We are told that others have apparently picked up on our perspective, so a dawning awareness might result in some crowd behavior here.jn8/8 --------

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next