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

To: GROUND ZERO™ who wrote (50)	2/10/2000 9:43:00 PM
From: NickSE	Read Replies (1) \| Respond to of 33421

The CRB ended its recent downside correction and resumed the uptrend with a vengeance Thursday, establishing a new uptrend high and activating a new bullish price pattern in the process. The pattern, a bullish head-and-shoulders continuation pattern, targets 218.00 as a minimum upside objective and will remain valid as long as minor support near 214.00 loosely contains prices on the downside. A decline below 209.92 would be necessary to negate the pattern's bullish implications. A second price pattern, a bullish rectangle activated Jan 19, continues to target 220.10 as a minimum upside objective. Interestingly, the recent downside correction ended almost to the tick at the 38.2% Fibonacci retracement of the previous (Jan 4-21) rally, which is characteristic of a strong and healthy bull market. The current major uptrend, in effect since August 1999, will remain valid this week above major support near 199.00. news.bridge.com