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

To: GROUND ZERO™ who wrote (2262)	6/19/2000 7:49:00 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 33421

GZ Good Morning.. on Fri i went to the beach early.. but got a ? for you.. the S&P's closed at 1481ish, and the cash SPX at 1464??? is that about right???..in fact at one point the cash was 1459ish... futures lead the cash..so a bounce was due??? also on the SPX 1481 has been hard resistance..we break that today we are going to 1515..cash...makes the S&P's 1530ish... best Jerry

To: GROUND ZERO™ who wrote (2262)	6/19/2000 9:10:00 AM
From: Chip McVickar	Read Replies (3) \| Respond to of 33421

Morning GZ, I can add only this to the daily chart reads: 1) SPX has a weekly fork Time Projection due this week from the high in the 4th week of July. This suggests resolution. 2) Last week was an Outside week proceeded by an inside week. This outside week closed above its open and slightly above it's 50% level and above the close of the previous week. This suggests 1480 resistance will be tested again. 3) It's also at the top of a 100 point move up in the cash charts, and this suggests topping when combined with the TP. 4) The market held support having bounced off the forward weekly forks lower tine, the downside potential is therefore contained at 1442, but break that area and serious lower numbers should be rolled out in response to the TP. It looks like all this should produce a transition week prior to setting up the next trend. Chip