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

To: IndexTrader who wrote (513)3/17/2000 3:38:00 PM
From: John Pitera  Respond to of 33421
 
Hi Susan, yes we did a 50% retracement and that also is a .236 retracement from the 1998 low to the high this year, so it is a cluster area of resistance.

Especially since the 200 dma is perched right above it as well. 10440 will provide some support, and we could probably slide to 10270-75 early next week intra day.

If we don't pull back to that type of area on the djia, it will really reinforce how strong the next upleg will be.

John


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