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

To: GROUND ZERO™ who wrote (1767)	5/25/2000 7:43:00 AM
From: Jack of All Trades	Read Replies (2) \| Respond to of 33421

I think it is a little premature to call a bottom here... I think we are trading range until next FOMC meeting... SPX 1440 - 1370

To: GROUND ZERO™ who wrote (1767)	5/25/2000 11:30:00 AM
From: Chip McVickar	Read Replies (2) \| Respond to of 33421

GZ, Other TA factors to consider on this DJIA chart: 1) The pennant 2) The retracement on 4/14 below .618%...a show of weakness for the pennant 3) The formation is a triangle...almost complete and not broken 4) Classic "M" pattern formed after 4/14...exactly on the .618 retracement at 10,364. This would indicate resistance at 10,690 and a break from there below 10,300 and 10,200 5) Chart is within 2 major down forks 6) Weekly chart has a diamond This is not to say all of these are not possibly bullish...! With the exception of the "M" 4/14 I'd like to see this pennant break higher.<smile> Chip