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

To: Arial who wrote (1090)	4/17/2000 9:31:00 AM
From: John Pitera	Respond to of 33421

Arial, a really outstanding post. I'll take a look at the monthly NASD setup a bit later today. 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. I am also potentially seeing it this way. I am listening to the market right now and I not telling it where to go. Excellent point about the USD, we need to see some meaningful momentum in the Euro and I also believe in currencies like the AUD. etc. The monthly USD chart reminds me of the monthly Nikkei Ave. with 1981 in the dollar being about 1985 on the Nikkei, and 1985 in the buck corresponding to 1989 on the Japanese stock market. John