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

To: Topannuity who wrote (1066)	4/16/2000 9:30:00 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

It's possible, especially since the DJIA and SPX have not broken some of the major downtrends, however they always could. Still, The 5-Day RSI on the Dow on April 14 closed at 15.11. The RSI reaches oversold territory and suggests you are near some sort of low when it falls below 30. That 5-Day RSI reaches extreme oversold territory when it falls below 20, so we are in extreme oversold territory now. The 5-Day RSI on the Nasdaq on April 14 closed at 11.21, the most oversold reading since 10/8/98, the exact day of the mini-crash closing low in the Nasdaq. On that day the 5-Day RSI closed at 8. The RSI cannot fall below zero so we are starting to run out of room -g- Also As I pointed out here Friday Afternoon the one day trin reading was just about off the boards, closing at 4.31, . Needless to say, that is a very high single day reading. This is the highest single-day reading since November of 1987, and usually single day readings that high represent market inflection points, and hence a bottom. We have seen more atypical market behavior this year, than in any other year I have studied, maybe I'll get a chance to summarize it a bit later this week. John