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

To: da_cheif™ who wrote (2995)	12/22/2000 7:13:47 AM
From: Mike M	Read Replies (1) \| Respond to of 33421

Are you?

To: da_cheif™ who wrote (2995)	12/22/2000 11:19:53 AM
From: GraceZ	Respond to of 33421

Message 15065528

To: da_cheif™ who wrote (2995)	12/22/2000 12:50:08 PM
From: John Pitera	Read Replies (2) \| Respond to of 33421

As you have pointed out, with the heavy commercial short position in the S&P 500 futures, it could provide some jet fuel, if a rally does get going. If we see this intermeeting Fed ease, that will provide the ignition. I believe that the NASD has gotten down to 4 standard deviations Below it's 200 DMA. This is the Polar opposite what we saw last winter, with the NASD so Monsterously above it's 200 DMA. We knew last Feb and March a selloff had to be on the way back to at least the 200 dma. Here are a couple of Feb posts: Message 12827178 geocities.com from Feb 9th: THE DAILY NASD CHART FROM 1-1-87 TO 2-9-00 W/ 200 dma updates. geocities.com yes it's true we were 4 standard deviations above the 200 day moving average on the NASD, and were 46.69% above the 200 dma on tuesday night as well. I believe This is the highest % above the 200 dma that we have ever been. geocities.com this is a log-scale chart so it should make us feel a bit better -g- --------------------- Message 12794576 he NASD is giving a pretty strong momentum sell signal on the daily chart, with the 2 all time highs this year occurring on momentum that is really dissipating. geocities.com. This indicates that we should be experiencing a downleg in the NASD that goes below the recent 50 dma low and may take us to the 200 dma. If we have not started a downleg by Weds. afternoon then a reevaluation of this shall outlook will be needed. John