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

To: John Pitera who wrote (1687)	5/22/2000 5:31:00 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 33421

John, When I drew the DOW diamond over the weekend, I tightened up the upper line by giving the excess to the market volatility and used the last peak in April (11,150) as the trend top. This makes the diamond tighter and closer to resolution. Today we broke the lower line, but settled above the line..! Any reason technically why I shouldn't do this....? A lot of economic fundamentals are reported on the 25th-26th briefing.com Then Memorial Day weekend time gap. Forks suggest a move up to 1440 cash for the S&P, but it maybe a hard push.... I like the upside for a while. For me all the weekly charts are still in a bull trend, but in dangerous territory. As to any bottom here..., well today found one , but I don't know about tomorrow...? Wouldn't you expect some follow through...even small..? Also I believe Favors is looking for a cycle low last Friday or today...? Notice how the daily moves are all getting smaller, no move is lasting more then a few days on any Index....7 to 4 days at best before reversal. My Best, Chip