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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Jorj X Mckie who wrote (4177)6/27/2001 10:46:18 AM
From: John Pitera  Read Replies (1) of 33421
 
Tom, I agree with you... the USD on the daily bar chart looks like it may be a little 3 wave corrective move down,
and if that's the case we'll turn around and head right back up once again. I don't see many convincing tells
at the moment, we'll have to see how all the markets react to the FED's actions today.

I am particularly interested to see how the 10 year note and long bond acts, they are both near correction point of
the March 22 top in price down to the May lows, one is .618 while the other is .5 in terms of retracing the price
decline since the price highs and yield lows of Late March.

those lows in yield established in late March were the lowest in 2 years and if we start to sell off again and it
firms up the idea that the lows in rates have been seen, that will be very important for all markets.

John
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