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

To: Jack of All Trades who wrote (647)	3/30/2000 4:43:00 PM
From: Chip McVickar	Read Replies (2) \| Respond to of 33421

Hi Jeff, The Classic "M" topping pattern is not complete until the Nasdaq closes below 4455.10 or the most recent low. It could still happen into early next week and still be considered fulfilled. There was an "M" in the SPX in Dec and Jan that was completed, but went on to become a downward channel that finally broke upwards on a five count. At 4458 this market is very weak....difficult to call and seems to be moved by any news very quickly. But the Nasdaq closed right where it should technically and I'd not be surprised to see a rally here. GZ did a 360 on the day and is now long on the strength of the close. If I were to take a quess....I'd say a bounce tomorrow and further declines next week. Chip