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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (2691)8/23/2000 11:59:06 AM
From: Chip McVickar  Read Replies (1) of 33421
 
John,

The NDX pitchfork shows that the market price has reached the median line of that fork, which is the forks objective.

Now..., the price has approached that line twice and without breaking thru...! Any retest must break up and thru with significant force on a third try to keep this rally going...! If not it would suggest the price will be repelled downwards.

The next fork suggests we'll see 3650± if the market fails to break higher. (8/9 peak and the following spread)

Forks are Not strictly support/resistance lines as you know from TA.

Chip
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