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

To: John Pitera who wrote (1087)	4/16/2000 3:35:00 PM
From: John Pitera	Respond to of 33421

Here is a Logarithmic chart of the DJIA from Jan 1986 through the close of trading on Friday. geocities.com A Logarithmic scale shows percentage changes which are very important when one looks at longer time horizons. After all if you where invested in DJIA Diamonds. The move from 1000 to 2000, would make you the same amount of money as a move from djia 5000 to 10,000. It's the percentages that matter. This Linear DJIA chart has a different look, and you'll notice that we have a nice Fib Support area @ 9400ish. as well as some strong horizontal support since that was the key July 20th 1998 high. geocities.com We need to continue to fall off the table to negate the support in these indices. JOhn

To: John Pitera who wrote (1087)	4/16/2000 4:13:00 PM
From: Arial	Read Replies (2) \| Respond to of 33421

Nice charts, John. Re: the NAZ log chart . . . . I use a monthly log chart and a parallel line (against the support line of '90, '94 and '98) intersected perfectly at the NAZ top when drawn from the 1987 high. Also, the fork on my monthly chart from the '87 low has the NAZ sitting right at support. However, the 10/5 monthly oscillator that has formed a perfect trendline at the lows is still above support. I expect it to eventually hit that support, but as long as it's not violated, I'll assume this is a hard wave IV down, with only the blue chip techs leading the final advance. By the way, do you see an "M" top on the daily dollar chart? quotes.barchart.com The daily looks bearish, and the consensus seems to be that the dollar will eventually move lower, but the monthly chart looks bullish to me as long as it stays above 104. fyii.net Regards

To: John Pitera who wrote (1087)	4/16/2000 9:06:00 PM
From: IndexTrader	Read Replies (1) \| Respond to of 33421

John, Thank you for those excellent long term charts. I really puts things into perspective. Friday's low was 3265 so we managed to bounce off the fibonacci cluster. There are a lot of others taking about the 2900 area, but I would imagine the bounce off that would be spectacular, so perhaps we have found a base to work from. Futures are picking up speed to the downside, so all we can do is wait to see what the week will bring. Thanks again for the charts. Susan