John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (2694)	8/23/2000 4:55:16 PM
From: Chip McVickar	Read Replies (1) of 33421

John..., Yes I agree..! This whole period in here at the end of August seems to be a pivot point. Both in currencies and equities markets. Been looking at this time period all summer...? This consolidation has been very difficult to trade comfortably. And I believe the charts are settled in a neutral stance when looking for the next trend direction. Some "new event" will be coming along shortly to establish the next move. I expect that to happen in the next few weeks. The old event of 'interest rates' is over and the next squall line is on the horizon...! The Utilities are an interesting placement of money and suggests conservative growth stocks are coming into favor. I'm not guessing yet at which way this consolidation since April will be resolved....? But the fact that the equity markets are up (kind-of).., under interest rate pressure is positive. But the developing flag on the weekly INDU is troubling..! Should know shortly..! Chip

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