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

To: GROUND ZERO™ who wrote (1695)	5/23/2000 9:12:00 AM
From: John Pitera	Respond to of 33421

I agree with you, my response crossed the cyber wire -g- You would need to have solid technical levels above and below the trading range to offset the break out. Since we can argue that we are in contracting triangles in both the DJIA and SPX, this would be exactly the wrong time to use that type of spread, as we should theoretically break out of the contracting triangle and have a bit of a move either up or down. I understand that Fed vice-chair Ferguson actually broke away from his set remarks yesterday to make hawkish comments on inflation, it building in the economy and stock market reaction to both of the above. ----------------- ---14:26 ET 30-year: +18/32..6.164%....GNMAs: +7/32....$-¾: 107.09 Fed vice-chair Ferguson is in a Q&A with a hawkish tone stating that inflation risk is very real though reading too much into one monthly measure can be dangerous. As for stocks Ferguson admits that he can't full understand what motivates the equity markets suggesting that the stock market may be overly bullish on expectations.---