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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (36)	2/7/2000 8:33:00 AM
From: Wildstar	Read Replies (1) \| Respond to of 33421

GZ, What's a bearish coil?

To: GROUND ZERO™ who wrote (36)	2/7/2000 2:37:00 PM
From: John Pitera	Read Replies (3) \| Respond to of 33421

GZ, As this SPX chart shows, we failed to hold above the .618 retracement level of the Jan 3 to Jan 31 sell off and hold above the 50 dma. geocities.com We also have stopped at the .764 retracement area from the Oct 18th 1999 to Jan 3rd 2000 rally. the NASD is giving a bearish momentum sell signal as show in the chart earlier today. This coupled with the very weak rally in the DJIA last week and the increase in long rates, paints a bearish picture. John