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

To: John Pitera who wrote (1557)	5/10/2000 10:48:00 PM
From: John Pitera	Respond to of 33421

The Daily NDX Chart has returned to it's 200 DMA geocities.com obviously we could theoretically rally off of this retest of the 200 DMA, However.... We are only a day or two's good sized decline from the major trendline @ 3000 and 2950 which is a 50% retracement of the entire low from Oct 8th 1998 to our March 2000 high. 2500 would bring us back to horizontal support and a .618 retracement of the entire 10-98 to 3-2000 advance. John

To: John Pitera who wrote (1557)	5/10/2000 11:06:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 33421

John, i believe the $ is in blow-off phase, with 97% bulls, it had a breakaway gap off the triangle a few weeks ago, so it will be hard to tell how far it will rally, i think fomc could create some trend changes in certain charts, maybe the $. the put/call ratio today was .68 and here we are 34% off the top and people are still buying more calls than puts. we need a 25% drop in a week to shake up the faithful, we may need a blockbuster action movie to stir up the jaded =g= the low volume bear rally off 4/14 bottom could have been a b wave, if thats the case, make sure you have the proper seat in the balcony and a load of popcorn and coke -g- b