John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Stoctrash who wrote (5283)	12/14/2001 2:50:16 PM
From: John Pitera	Read Replies (1) of 33421

Thanks for posting those 2 charts for me. As I said in the email, I sent yesterday. the NASD lows yesterday were near a very critical juncture. The NASD had come back to it's downtrend line of the past 2 year which it had broken above. It also came back to the primary uptrend line that has been in place since the Sept low. geocities.com the Nasd yesterday also bounced off of it's 21 DMA and was just a tiny bit above it's critical 200 dma. So 4 different support points converged near 1930-35. A break below these will mean some more intensive selling will kick in. Holding these levels as we have today, are saying we move higher. We'll need to make sure they hold on Monday and Tues. John

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