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

To: wlheatmoon who wrote (690)	4/1/2000 12:34:00 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 33421

Thanks Mike... On the DOW, if you bisect the January high and the March low, then run a line from the October lows through that bisect point you will find that the DOW came up to that line and penetrated it a little bit.... if the DOW were going to sell off, the DOW would have just touched that line and then have sold off immediately and rapidly... but instead, it exceeded that line and has returned below it and is hanging around it, so that median line, which acts like an attractor and repellant, is still attracting it... it appears as if the DOW is trying to resume its rally... so, if we see the DOW move back up above that line on Monday, then there's a reasonable argument that the rally will resume... if that line loses its appeal and we sell off hard on Monday, then all bets are off for the long side..... tscn.com. GZ