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

To: Chip McVickar who wrote (1409)4/28/2000 9:45:00 AM
From: John Pitera  Read Replies (1) | Respond to of 33421
 
Updated DJUA chart...wow a 21% Rally since the March 9th
inflection point.

geocities.com

Chip, your call for a big Rally in the UTILS, has been
spot on. Your forecast, which might have appeared to have
been bold at the time has worked out like a full house -g-

This rise in the UTIL's is almost the same magnitude as
the first wave of advance in the NASD last Oct.

Obviously we are in the area of strong resistance for the
DJUA, but this increases the chances of a broader market
rally.

John



To: Chip McVickar who wrote (1409)4/28/2000 9:49:00 AM
From: Jorj X Mckie  Read Replies (1) | Respond to of 33421
 
Chip,
P&F is price based so it will show a price spike (though it won't readily be apparent that it is a spike). Depending on the time slice used to create the chart some price action may not show up on the chart. For example, DWA will only show direction in one column of Xs or Os per day. If we were currently in a column of Os and we dropped 10pts (or whatever increment) and then reversed up 50pts, the chart would only show the 10pt drop..
Tom


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