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

To: John Pitera who wrote (2605)	8/11/2000 1:37:30 PM
From: wlheatmoon	Read Replies (1) \| Respond to of 33421

john, i'm too uninformed to agree or disagree. the more pertinent question is what do YOU think? -g- mike Today Bob Brogan issued a sell alert on utilities. “Sell Alert” Electric Utilities (UTY)Electric Utility commons as measured by the Phila. Utility Index (UTY) has rallied +37.2% from its March 14th lows (@ 239.1) and recorded important upper Bomar Band tag with Momentum / Internal Strength peak & reversals last night. We believe the UTY now @ 323.75 is vulnerable to a –12% correction to its long term technical support @ 285. This Same technical configuration also applies to both the S&P, Dow Jones Electric Utility index. In the past 10 years, confirmed “Sell Alerts” in Electric Utility Commons (UTY) have been coincident with Cyclical peaks in the 10 & 30 Year U.S. Govt. bonds. (i.e.: Sept. 1993, Feb. 1996, Oct. 1998 and Dec. 1989). Warning, Intermediate and Long Term Interest rates are now expected to move significantly higher!