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

To: GROUND ZERO™ who wrote (2362)	6/23/2000 2:24:00 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

could be....could be.... or maybe one more week check out this up week down week stuff that Peter Greenan is musing about. Futures Researc PETER G. GRENNAN (06/23/00) STOCK INDEX FUTURES MARKET COMMENT . This week finally took on more of expected corrective pattern after last week's plus close. This helped work off some of overbought condition. Last Friday's close on sp was 1488. Odds still favor minus week following last week's plus week. If sp manages minus week, then next week should be plus week. However, we expect sp to close plus today, so if that does take place, for next week's odds to be plus week, today's close should be up but not over 1488. SP tested its 21 day ma yest at 1475 and closed over. Sp 21 day ma should also be about 1475 today. SP also tested towards its 21 week ma at 1465 with 1468.50 low. First support 1475-76. As was case yest, under 1474.50, test 1465-70. Resistance 1480-85. Over 1485.50, 1490.(Dow testing 2% under 21 day ma; so far holding.) FAIR VALUE+1877;BUY+2040;SELL+1720. .