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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: John Pitera who wrote (1657)	4/25/2001 5:27:01 PM
From: Chip McVickar	Read Replies (1) of 12410

Hi John, Warm weather's here..., green leaves just opening, trees budding, and the Magnolias fill the air. <smile> Doing all right... How about You...? Markets: The monthly and weekly pitchforks on the DJIA define the Bull Market as still being Intact and forming a base. But just hanging on by a Thread. If a complete monthly bar closes below 9850 then the forks will suggest the greater attraction is the lower tine at 7750. (use the 7/1998 high handle) Dollar: DX01 nearby has a classic "M" pattern. To me this is a clear sign of weakness and new contract lows if the traders break 114.25. DX forks are very active and suggest 115.50 will be hard to move above. Fib spiral signals down. I believe you will see 112.00 shortly. Grains: Players still won't buy the anticipated breakout of wheat..., although fundamentals suggest it. Seems the conditioning of range bound trading dominates. I suspect when it happens any move will be very fast. Corn is hopeless...! Look for the USA to have Mad Cow disease, shortly. Gold has a strong bullish pattern and the charts suggest some upward breakout is building. I keep asking myself..., What is Greenspan know we don't..? What does Japan's new leader going to do..? When will the banking system their upchuck..? What does Bush want..? Still maintain the investing sentiment has changed with Bush's election..., and his agenda will push the country into a sustained Low Growth period. And Political Turmoil. All and All...! Flat range bound sidways US markets. Nasdaq returns to a second grade Index...! Dow Bull intact for now. Modest Inflation Pressures..! Potential for Gold and Grains Thanks for asking me my opinion, I needed to think it out and write it down. My Best, Chip

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