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

To: Chip McVickar who wrote (1496)	5/3/2000 6:43:00 PM
From: bearshark	Read Replies (4) \| Respond to of 33421

Ahhh. A nice quiet place to hang my hat--if I wore one. I will try to visit again soon.

To: Chip McVickar who wrote (1496)	5/3/2000 10:02:00 PM
From: John Pitera	Respond to of 33421

Chip a trading range is a likely scenerio, I'm a bit concerned about the lack of liquidity and the airpockets still in some stocks.... I'm proverbially Down on My Knees Listening Like theives for what little kernals of info the market is willing to provide. Obviously many of the current cycles call for this to be a potential very volatile month... and we are so far living up to it!!!! ---There are reasons to suspect we are near another low here. The Dow is normally near at least a short-term low when it falls down near or below the bottom of its 21-Day 3 1/2% Exponential Trading Band. The bottom of that band today was 10423. While the intraday low was below that level, the print low for the day was 10400.09. For tomorrow the bottom of the band should be near 10390 or so, depending on where we close. The 5-Day RSI normally indicates you are near a low when it falls below 30. Today the 5-Day RSI closed at 27.05. The Cycles and our Gann Trend Change Dates suggest we should be near a short-term low in this May 4, plus or minus 1 day time frame. The Trin-5 normally indicates you are near a low when it rises above 6.00. It is above 6.00 today----