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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (6098)	1/15/2001 10:08:10 AM
From: John Pitera	Read Replies (1) \| Respond to of 19219

Hi JR, you caught me on a good day (market closed and I'm here doing some work and really focusing on some very short term stuff) so here is a 5 Minute NASD chart of the action this year. geocities.com Yes 2547 is a .382 pullback of the wave that started on late in the day on Jan 8th. there are 2 short term support areas at 2590 to 2600 1- .236 of a potential wave 1-3 rise (the entire move since the Fed rate cut low on 1-3-01 2- 200 period MA 3- the lower linear regression channel. but we could also go below those as this very short term stuff changes on a dime. I believe this has been a major inflection point for the NASD since Dec 12st and so I'm looking for a larger rally over the next several weeks, so don't be a micro timer, unless you're trading futures or Jan options. I noticed a tendency for the Naz to go down early in options ex week, that sometimes happens, and also there was a very reliable pattern for a couple of years that the tuesday prior to options expiration friday was a great trending day, If the market opened higher, it would pause and trend higher the entire day, the opposite would happen on a lower opening. That pattern became to well know and has dissipated the past 6 months or so. Since Monday 1-14-00 s a holiday that throws the pattern of this week into question. this next bit of writing below is a bit of a technical issue about cycles that is may not be relevant to many of the readers of this thread, and I have not read the MITA that much ........... the period (wave of advance) between Jan 3 and Jan 8th may also not be a wave 1. It may instead be an in between period that is best understood when one has studied Chris Carolan's Spiral calendar. He have period's where there are two foci that is kind of like a bridge in musically terms. There will be an in between period between one set of cycle energy and mathematically relationships and the Next Upcoming Dominant cycle of time relationships. In my own research of cycles, Elliot, Time and Price this is an area that no one has really focused on and written much about, at least I've not come across it and I've personally talked with Walter Bressert, Bob Miner, John Murphy, John Bollinger, Bob Hitt and a few others in the past 3 months and they have not seemed to have completely thought through this concept. I really thought Bressert would have immediately said yes, I know just what your're talking about. But actually are talk was time constrained and we were focusing more on where different sets of cycles would be donimant in Bull phases and then yield to a different Harmonic cycle dominance in a bear phase. Ideally the magnitude of Intermediate and long term bull and bear phases would also have different cyclic periods and Vibration numbers. Anyway, i've gotten off track on a rant here, probably because I'm doing research today. John