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

To: GROUND ZERO™ who wrote (2334)	6/23/2000 7:30:00 AM
From: Chip McVickar	Read Replies (2) \| Respond to of 33421

GZ, Think we'll see at move up today. Yesterdays sell-off was apparently started by a rumor that Greenspan was hurt in an automobile accident. Totally false....! Also we didn't takeout the low of 1442.38 of the 13th, so I look for a burst of upward energy from an over done drop. This is not to say that any further strength shouldn't be sold, but I've not given up yet...! Also this guy's work is interesting...! patterntrading.com Chip

To: GROUND ZERO™ who wrote (2334)	6/23/2000 10:08:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

GZ, the SPX cash has support at 1453, it's 21 dma and then at 1438, which is it's 50, we could well see a rally or two in the next several days until we break below those levels. obviously the 6-13 low of 1443 would be broken if we get under 1438. 1443 is support. It's probably very hard for the market to really break down prior to the Fed decision next week. Rhetorically, how do we get our big leg down, until the Fed decision, the genome beauty pagent, that will be a massive media event next week and end of Q2 window dressing? to counterbalance that thought, the nasd does look weak -g-