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

To: GROUND ZERO™ who wrote (136)	2/25/2000 11:04:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Paul, nice analysis on that weekly fork, if we rally from here and it's a weak rally then we'll have another decline to 9600-9700 on the DJIA. We'll have to watch the character of the rally. ie, a/d decline, volume, leadership, bond market etc. John

To: GROUND ZERO™ who wrote (136)	2/27/2000 4:48:00 PM
From: IndexTrader	Read Replies (1) \| Respond to of 33421

Hi GZ, I hope you are well. I noticed you are in cash awaiting the next big move. That was a smart move considering all the whipsaw. I am curious if you have done any forks on the Nasdaq Comp? I cannot post a chart with forks, but here is a reference. siliconinvestor.com It looks like there are two active forks (short term). Origin - October Low High - January 3 Low - January 7 Second Fork Origin - January 7 High - January 24 Low - January 31 The Nasdaq travelled along the median line of the first fork until about January 25th and is now following the median line of the second fork whose median line is also the lower tine of the first fork. (Wish a had a way to draw the forks and then post) Sorry. Anyway, are you looking at any longer term forks and do you seen any turning points? OK - Now I am going to make this even messier. Lets say Thursday was the top. Then could we draw a new fork with the origin being the high of 2/18 and bisect the low (low point of 2/24) and the high (the high point of 2/28)? siliconinvestor.com If this is a new fork (down sloping) it would give us a turning point next week. I wish I could display a graphic with the forks. I would love to hear your opinion. Thanks in advance. Susan