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

To: Chip McVickar who wrote (271)	2/29/2000 1:07:00 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

We have just touched the SPX 200 dma at 1362, so this may be a resistance area for the market. I have some issues with the NASD's pattern, making me think we may see a bigger decline that these little 2 day downdrafts we have become accustomed with. I hope to elaborate on this later today

To: Chip McVickar who wrote (271)	2/29/2000 3:03:00 PM
From: GROUND ZERO™	Read Replies (3) \| Respond to of 33421

Well, I think that 1415 is kind of high, and John is thinking 1362 according to his post... I'd say 1375 (.382) should offer some resistance, then 1390 (.5), then 1405 (.618)... of those three points, I'd guess that 1387 is where we may see the first level where the bulls will run into some serious selling, that's the low made the first week in February prior to the last solid rally... we'll see soon enough..... GZ