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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Chip McVickar who wrote (2801)	9/11/2000 6:02:24 PM
From: Dan Duchardt	Read Replies (1) of 33421

Chip, The Nasdaq "M" is in place and the "v" is at 3936.46. I'm definitely interested, but I guess I'm confused. I assume you are talking about the "M" with peaks on 7/17 and 9/1, and so I was expecting the "v" to be the low point in between on 8/3. I can see the 3936.46 level, and I consider it a likely support level that failed today, but I would have interpreted it as the "v" of an inverted "M" or mid peak of the rather lopsided "W" that broke to the high side on 8/17. If there were no secondary peak like the 3936.46 between the 7/17 and 9/1 peaks, where would you put the "v", or would that not be an "M" formation at all? I don't see where the 3846.98 comes from; could you give me a date on that? TIA Dan

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